What is Open Innovation

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The term open innovation means a situation where an organisation doesn’t just rely on their own internal knowledge, sources and resources (such as their own staff or R&D for example) for innovation (of products, services, business models, processes etc.) but also uses multiple external sources (such as customer feedback, published patents, competitors, external agencies, the public etc.) to drive innovation. There are two types of open innovation: inbound open innovation, and outbound open innovation. Inbound innovation is about sourcing and acquiring expertise from outside the organisation, and scanning the external environment for new information to identify, select, utilise and internalise ideas. Outbound innovation is the purposive commercialisation and capture of internally developed ideas in the organisation’s external environment. This might be through selective revealing of a product to journalists and reviewers or selectively selling the technology or service to customers with a view to getting feedback (The Oxford Review Encyclopaedia of Terms, 2019 AU10: The in-text citation "The Oxford Review Encyclopaedia of Terms, 2019" is not in the reference list. Please correct the citation, add the reference to the list, or delete the citation. ). Learn more in: For an Open Innovation Platform Dedicated to Education: A Blockchain Approach

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A concept brought by Henry Chesbrough as opposed to Closed Innovation; in accordance with this concept organizations are encouraged to use external sources of research, development and/or innovation as well as to share these kinds of resources with other. Learn more in: The Role of the ICTS in Knowledge Transfer: A Special Focus in Fraunhofer AICOS

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“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. 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 they look to advance their technology,” (Chesbrough et al., 2006, p. 1). Learn more in: Grounding Principles for Governing Web 2.0 Investments

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Organisations using ideas and capabilities originating outside their boundaries in order to increase the rate with which innovation occurs and decrease innovation costs. Open innovation also includes an organisation selling innovative ideas it has generated but cannot use in its business. Learn more in: Process Innovation with Ambient Intelligence (AmI) Technologies in Manufacturing SMEs: Absorptive Capacity Limitations

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A term introduced by Henry Chesbrough describing activity of combining external as well as internal ideas and knowledge while developing new solutions. Learn more in: Crowdcasting: A Platform Fostering Open Innovation

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It consists of an innovation strategy by which companies receive external organizations or professionals ideas. Learn more in: A Triple Helix Model Based on Open Collaborative Innovation in Colombia: A Proposal for Higher Education Institutions

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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. Learn more in: Exploiting Technological Potentialities for Collaborative New Product Development

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“Means that valuable ideas can come from inside or outside the company and can go to market from inside or outside the company as well” (H. W. Chesbrough, 2003 , p. 43). Learn more in: Open Social Innovation

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The development of new products and/or services making use of external resources. Learn more in: User Involvement during the Development of Mobile Service Applications

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Emphasises the assets of exchange of ideas and knowledge on both the microeconomic and the macroeconomic level. Learn more in: User-Generated Cinema: A New Way of Consumer Co-Creation?

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An innovation approach that allows ideas, information, knowledge, and technologies to flow in and out of companies. Learn more in: A Framework Development Effort for Using Online Communities in an Open Innovation Understanding

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use of knowledge internal and external to the organization, in order to obtain a greater joint contribution in product and service innovation and development processes. Learn more in: Open Innovation as a Business Entrepreneurship Strategy: The Consumer as Value Creator in Digital Ecosystems

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Identifying innovative ideas in conjunction with common interest individuals/groups to identify potential new developments or improvements to existing products/processes/services. Learn more in: Optimizing Hearing Aid Utilisation using Telemedicine Tools

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Term coined by Chesbrough (2003) which describes a partnership between institutions/companies in the purpose of innovating. The use of external knowledge. Learn more in: Towards Convergence in European Higher Education through Open Innovation

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Open innovation is an approach that changes the traditional approach to innovation and underlines that firms can acquire, combine, integrate and develop both internal and external ideas and knowledge sources for accelerating their internal innovation processes, improving their knowledge base and expanding the market for their innovation outcomes. Learn more in: Open Innovation through Customers: Collaborative Web-Based Platforms for Ethically and Socially Responsible New Products Part 1

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A paradigm acknowledging and making use of in-house ideas as well as innovations from other businesses and the wider public to enable the flow of external knowledge into the organization which turns into projects in co-operation with external partners. Learn more in: Smart City Solutions and the Potential of Using Web APIs: End-User and Technical Perspectives

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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. Learn more in: Adopting Open Source Software in Smartphone Manufacturers' Open Innovation Strategy

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A paradigm assuming that firms can and should use both external ideas and internal ideas, both internal and external paths to market in their technological innovation, translating it into specific achitectures and systems. Learn more in: Open, User, and Smart Innovation in Cultural Firms

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Type of innovation when valuable ideas can come from inside or outside the company and can go to market from inside or outside the company as well. Learn more in: An Open Innovation Lens on the Digital Transformation Frontiers

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Refers to purposive inflows and outflows of knowledge used by the focal firm with the aim of accelerating internal innovation and/or expanding the markets for the external use of innovation. Learn more in: Understanding Knowledge Absorption for Inbound Open Innovation Practices: How Do Knowledge Antecedents Influence the Process?

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The open innovation model offers a new approach to research, development and innovation to companies through the use of their own research, innovation, and innovative strategies not used in their business. Learn more in: Recommendations to Enhance Communication With Users Through Prototypes and to Assist Open Innovation: A Case Study in a Developing Country

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A strategy by which organizations allow a flow of knowledge across their boundaries as they seek ways to enhance their innovation capability. Learn more in: Cultural Indoctrination and Open Innovation in Human Creativity

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Inbound and outbound activities of a company to optimize its innovation process, whereby inbound refers to the integration of external knowledge or ideas, while outbound encompasses activities like licensing of a companies’ patents. Learn more in: Play or Vote: Matching Games as New Approach for Design Evaluation in Innovation Contests

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The use of external knowledge to accelerate the internal innovation process. Open Innovation expands the frontiers of innovation and may imply the introduction of the organization in new markets. Learn more in: Open Social Innovation: An Approach to Public Organizations

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It is a two-way process in which knowledge inter inside the boundaries of the firm and goes outside the boundaries of the firm for commercialization. Learn more in: Open Innovation Challenges and Coopetition-Based Open-Innovation Empirical Evidence From Malaysia