Open Innovation Masterclass already in our rear-view mirror!

From 25th to 26th November a group of renown experts in the field of Open Innovation were our guests in Warsaw. On the first day, during a Public Lecture, they presented the most important goals and objectives lying at the core of Open Innovation. It was a fine occasion to get to know the Open Innovation principles, its philosophy of effective building the competitive advantage through the use of knowledge and resources, which are not available or which development inside the company would be counter-efficient.

The key speaker on the first day was Professor Wim Vanhaverbeke from Hasselt University, ESADE Business School and the National University of Singapore. The co-author of Open Innovation books: “Researching a New Paradigm” and “New frontiers in open innovation”. As a scientist, in his research Prof. Vanhaverbeke focuses on issues relating to Open Innovation and innovation ecosystems’ creation. He is an expert recognised by the International Association for Management of Technology (IAMOT) as one of 50 foremost specialists in the field of innovation and technology. He is the founder of European Innovation Forum (EIF).

In his speech, Prof. Vanhaverbeke highlighted the fact that only a small number of innovations stands a chance for commercial success. However, in the long run, enterprises that are not implementing innovations face a far greater risk. Developing the scope of business activities, including searching for new business models and identifying new groups of potential customers is quite a challenge. The key to success, for both – global corporations and modern small and medium businesses, could be understanding the mechanisms that regulate the innovations market, and the rules of conduct characteristic for cooperation between business units owning novel solutions. Thus, Open Innovation is a path chosen by those, who understand that innovation is not something we can ignore. The ability to properly develop a business through the employment of innovative solutions from the outside combined with effective management of those solutions is worth its weight in gold.

An electronic version of Prof. Wim Vanhaverbeke’s entire presentation is available below.