What’s the origin of the expression “Open Innovation?
Dear friends,
Today, I’d like to introduce you to the meaning of Open Innovation.
It’s an expression and a business concept promoted by Henry Chesbrough, teacher at the Haas Business School, UC Berkeley, and executive director for The Center for Open Innovation.
It refers to the use of inflows and outflows of Knowledge, aiming to improve internal innovation and expanding the markets with innovative ideas.
“Open Innovation is a paradigm that assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as the firms look to advance their technology. Open Innovation combines internal and external ideas into architectures and systems whose requirements are defined by a business model.”
Henry Chesbrough, Open Innovation: The New Imperative (2003)
After his first definition, the professor introduced a new one:
“Open innovation is the use of purposive inflows and outflows of knowledge to accelerate internal innovation, and expand the markets for external use of innovation, respectively.”
Henry Chesbrough,Open Innovation: Researching a New Paradigm (2006)
InoCrowd is a company that accelerates innovation using the open innovation model, connecting companies and organisations with worldwide researchers.
Kind Regards,
Soraya Gadit