ENABLING INNOVATION

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Open up to a world of innovation opportunities

Boost your innovation success rate

Increase R&D productivity

Increase speed to market

GAIN A COMPETITIVE EDGE WITH OPEN INNOVATION

Open innovation is about building an ecosystem where ideas flow openly from your customers, employees, and other stakeholders such as partners & suppliers. This ecosystem allows you to capture and flesh out ideas collaboratively, leading to sustained innovation. Open Innovation is about building win-win partnerships that benefits all parties involved



Open Innovation is driving change in the FMCG industry as companies seek to accelerate their innovation capabilities

Companies that rely solely on their in-house R&D capabilities may be losing out to smarter business leaders who are seeking to work collaboratively with external sources of new ideas, technologies and capabilities.

Through Open Innovation, these leading companies are looking to identify opportunities to create value by simply challenging a mindset of assuming the best ideas and technologies come from within their own organisations.

They are now looking to collaborate beyond their own walls, seeking partnerships and fresh technologies to drive their innovation agenda.

THE BENEFITS OF OPEN INNOVATION

OPEN INNOVATION SHOULD LEAD TO WIN-WIN PARTNERSHIPS BETWEEN COLLABORATORS




MUTUALLY BENEFICIAL PARTNERSHIPS

 

Not only are smart business leaders more receptive to new ideas and technologies from the outside to boost their internal innovation capabilities, they are also willing to trade their internal know-how for use by other non-competing companies.

 Challenging the status quo, forward thinking companies are also pursuing opportunities for spin-outs, licensing and co-branding.
 

Small companies are significant generators of new ideas and technologies. By bringing together these small and large companies in mutually beneficial partnerships, a new level of speed, entrepreneurship and innovative capacity is being injected into the larger corporations.

APPROACHES TO OPEN INNOVATION

OPEN NETWORKS

This has been a popular and established approach for some time. Companies can explore opportunities through strategic partnerships with suppliers, academia and research institutions.

TARGETED SCOUTING

Companies can seek to identify technologies and opportunities through targeted technical briefs using internet-based platforms or technology brokers

OPEN DOOR POLICY

Companies welcome ideas and technologies from outside sources, usually through their Legal or R&D departments.

ACQUISITION STRATEGY

Companies employ a pinpoint strategy to acquire technology or companies

UNLOCK R&D PRODUCTIVITY BY EMBRACING THE FUTURE OF WORK