Strengthen link and leverage your ecosystem
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Incorporating open innovation, programs with startups, and universities brings:
Access to external expertise, knowledge, and specialised skills.
Accelerated innovation and agility through collaboration with startups and universities.
Co-creation of solutions that address complex challenges more effectively.
Economic growth and job creation by supporting entrepreneurship and innovation-driven businesses.
Enhanced public value through improved services and outcomes for citizens.
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How:
Open innovation program can be done in various ways - for instance:
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Google's "Google Summer of Code":
Benefits: It allows students to work on open source projects mentored by experienced developers, fostering collaboration and skill development. It also contributes to the growth and improvement of open source software.
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LEGO's "LEGO Ideas":
Benefits: It invites LEGO fans to submit their own design ideas for potential LEGO sets. This program harnesses the creativity of the community and enables fans to become part of the product development process, resulting in unique and popular LEGO sets.
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NASA's "NASA Tournament Lab":
Benefits: By crowdsourcing solutions to complex challenges, NASA engages a diverse pool of talent to solve scientific and engineering problems. This approach accelerates innovation, reduces costs, and promotes public involvement in space exploration.
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Procter & Gamble's "Connect + Develop":
Benefits: This initiative encourages external collaboration by inviting inventors, entrepreneurs, and businesses to submit their innovative ideas and technologies. It helps P&G access a broader range of ideas and expertise, fostering product development and market expansion.
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General Electric's "GE Open Innovation":
Benefits: GE partners with external organizations, startups, and entrepreneurs to co-create solutions in areas such as renewable energy, healthcare, and advanced manufacturing. This collaboration enables GE to leverage diverse expertise, accelerate innovation, and create mutually beneficial opportunities.
These open innovation programs demonstrate the benefits of tapping into external resources, expertise, and creativity to drive innovation, gain a competitive edge, and foster a collaborative ecosystem.