Getting Started

OPEN INNOVATION: HOW TO GET STARTED

 

Specify your goal

Know what you need and why open innovation is a viable option. What is a specific problem you are trying to solve? Are you looking for new market opportunities or new features to expand your line of products? Weigh the pros and cons of innovating in-house versus sourcing for external inputs.

 

Get buy-in

Bring your co-workers onboard the open innovation journey early. Share with them the strategic reasons for co-innovation. The last thing you want is your employees thinking they had failed to deliver, thereby resulting in you having to outsource.

 

Think win-win

Start out with a win-win mentality to maximise gains for both challenge owner and solver. Both parties will be more prepared to commit to the project knowing you are helping each other to succeed.

 

Prepare to share

You do not need to spill the beans on all your proprietary R&D or trade secrets. You do need to decide how much data, technical know-how and business information to share with challenge owners or solvers in order to co-create useful solutions.

 

Scope the project

Are you able to provide a clear brief for the project, listing the expectations, resources, communication channels, as well as its legal and financial aspects? A common understanding among all stakeholders makes working together easier and minimises conflicts.

 

Read more about how to get started:

Ready for open innovation?