Thinking outside the company: Open Innovation
September 28, 2009This wikipedia article provides a definition of Open Innovation, a term coined by Berkley professor Henry Chesbrough that basically means a company outsourcing innovation. Some consulting companies started playing in this field, providing a forum where experts and companies looking for solutions can interact. Examples include Idea Connection and TekScout, from Utek .
A subset of open innovation is Crowdsourcing, popularized by Wired magazine and described in details here.
Key insights:
- An innovative approach to innovation
- A new business model for consulting companies – who will become the new eBay of ideas?
- Crowds can generate noise but can also generate innovation cheaply
CBIG asks: Will open innovation share the rise and fall of outsourcing?
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