Open Innovation in Action - Stevenage Bioscience Catalyst
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The document discusses open innovation and how large companies can collaborate effectively with startups and small external partners. It provides advice on developing the right framework for open innovation by using different partnership and engagement models. It also identifies some of the challenges that can arise from cultural and operational differences between large and small companies. The document emphasizes the importance of having clear expectations, mutual benefit, and embracing open innovation and entrepreneurship.
Open Innovation in Action - Stevenage Bioscience Catalyst
- 1. MakingOpen Innovation Work - Going from the Why to the How www.15inno.com 15inno by Stefan Lindegaard at LinkedIn Groups stefanlindegaard@me.com Twitter: @lindegaard Hey! Freebookson 15inno.com!
- 2. Change how we innovate Be competitively unpredictable Develop the right conditions and framework
- 3. “…a philosophy or a mindset that they should embrace within their organization. This mindset should enable their organization to work with external input to the innovation process just as naturally as it does with internal input” - Making Open Innovation Work, 2011
- 4. Partnerships, alliances, consortia, networks Directed Supplier Summits, Entrepreneur Days Instructions Directive, invitational Directive, participative None Suggestive, invitational Suggestive, participative Relatively few Invitations “Everyone” Credit: OVO Innovation
- 6. FMCG MEDTECH PHARMA Cycle time, money, IPR and conservatism
- 7. media are key drivers forterm is gone in 5-7 years! Open innovation as a o
- 8. When big companies meet small companies
- 9. Innovation strategy vs entrepreneurship (do or die!) Following vs breaking rules, attitude towards risks Everyone should benefit in an ecosystem – BUT… …big companies got the driver’s seat!
- 10. Why things go wrong
- 11. Values don’t match, not the same language, working principles not defined
- 12. Set expectations upfront to avoid the “false positives” mode
- 13. Don’t end up negotiating with a closed innovation mindset (get behind the scenes)
- 15. Holistic view: Go beyond products, technology Networker, communicator, intrapreneur, influencer Adaptive, tolerance for uncertainty, optimist 1) Innovation leaders and 2) intrapreneurs
- 16. Will big companies kick small company butt? Speed / transparency works against startups Business model innovation is key! Big companies must embrace OI / intrapreneurship
- 17. Get in touch! www.15inno.com 15inno by Stefan Lindegaard at LinkedIn Groups stefanlindegaard@me.com Twitter: @lindegaard Hey! Freebookson 15inno.com!
- 18. media are key drivers forChanger for Innovation Social Media: A Game o
- 19. …tools, services and platforms that drive virtual interaction and involvement for innovation efforts Crowdsourcing, communities, Twitter and LinkedIn Social media can also work for BtB companies!
- 20. Identify and interact with innovation partners Generate more ideas, faster Get market and competitor insights Promote corporate innovation capabilities
- 21. Identify your focus area, develop content strategy Set up your platform and channels Become a curator, start sharing Track, improve, expand, experiment - iterate