Open Innovation is about increasing the innovation potential of firms by opening them up to new ways of working with external organisations. Whether this takes the form of new co-working agreements, acquisition of start-ups with interesting technologies, or spinning out new developments into external companies the ultimate goal is the same: to increase innovation and increase value as a result.
These practices have existed, and been studied, for many years and the dynamics of Open Innovation are truly remarkable and to some practicing disciples it represents the nirvana of organisational innovation. The term Open Innovation (OI) was brought to us by Stanford Professor Henry Chesbrough in 2003, based on his observations of technology firms, yet is certainly not exclusive to the technology world as many other industries from Pharmaceuticals to FMCG have been through these changes, and the

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