The market for open innovation increasing the efficiency and effectiveness of the innovation process

Abstract

Behind the term open innovation is a powerful message: Successful innovation is often created in a cooperative mode with external actors. But which is the right method for open innovation? Which are the criteria to plan an open innovation project? Which intermediary or service provider has specific knowledge and expertise in, e.g., crowdsourcing, the lead user method, Netnography, idea contests, technology scouting, or broadcast search? For the first time, this report provides a com- prehensive analysis of the service providers and platforms for open innovation. These intermedia- ries can help organizations to accelerate their open innovation initiative. We take a detailed look on the methods, cost, and project structures. Our purpose is to support strategic decisions when planning an open innovation venture. Managers will gain an overview of the intermediaries available for open innovation from a global perspective and will get advice how to identify partners for their project in a directed way.