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What is Open Innovation?

 , updated on January 22, 2016
Open innovation is a collection of information sharing and collaborative strategies that are designed to stimulate innovation. These include requirements to share innovation and develop feedback loops within an organization or a community. In some cases, open innovation also asks the community to design things with strategies such as design competitions.
Overview: Open Innovation
DefinitionInnovation approaches that call for open sharing of information and designs.
ValueDesigns tend to be hardened when they are open through processes such as feedback loops and peer review.
Allowing others to use your designs can increase adoption of a new technology. In some cases, a firm can't achieve critical mass alone and benefits when competitors follow their approach.
Sharing designs can have positive effects such as publicity or establishing a reputation.
Related ConceptsInnovation Principles


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