Open Innovation

 

Open Innovation is a term promoted by Henry Chesbrough, of the Center for Open Innovation at UC Berkely, in his book Open Innovation: The new imperative for creating and profiting from technology.

It is based on the concept that in a connected, networked, knowledge-based world an organisation cannot rely on its own innovation capability and capacity but must exploit the thinking of others – by buying or licensing external intellectual property (IP). 

The term ‘open innovation’ was suggested by the open source, software concept whereby collaborative projects involving previously unlinked individuals or groups can result in concerted and co-ordinated effort towards agreed goals.

 

Read more