open innovation

Progressive companies are increasingly using external resources, such as consumers or even external experts, in their search for innovations. In this context, we speak of open innovation.

Such open innovation lays the foundation for systematic use of all available sources and maximizes a company's innovation potential.

One example of the application of open innovation is the co-creation approach, in which consumers can contribute their own ideas to product development. Another example is open source as the most far-reaching variant of open innovation. Henry Chesbrough, Professor at the Haas School of Business, UC Berkeley, is considered the founder of the Open Innovation concept.