Making the most of open innovation
Would you describe innovation in your company as being open or closed? It’s too easy to assume that innovation can only be accessed within your company but those that do are missing a trick.
Seeking knowledge from outside your organisation will create value and allow you to tap into the vast potential for innovation that lies outside.
This was the theme for a seminar held at the Science Park this week by the new Enterprise Research Centre (ERC). The ERC is a research consortium, which conducts policy relevant research on SME growth and development. It brings together some of the UK’s best SME researchers from five leading business schools.
The event provided an opportunity to hear results of recent research on open innovation in business across diverse sectors. This showed that, regardless of sector, those companies that source ideas externally and take them to market grew significantly faster than other companies in their sector.
For more information, go to http://enterpriseresearch.ac.uk/events/open-innovation-in-small-firms-wise-choice-or-costly-mistake/