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The question of direction in open innovation is quite simple: if SME has something that other companies could also use in their own work, outbound O.I. is to be used; if SME wants to change itself with solutions that others posess, inbound O.I. is to be used.

If a SME is to innovate openly, it needs external partner or partners to collaborate with. That partners should possess complementary knowledge, in order to help the SME. In other words, SME should choose partners that have relevant knowledge and creative potential that could be used for innovation. Other companies may be interesting partners since […]

As with other business models, Open Innovation isn’t for everybody. SMEs need to be aware of inputs they need to invest in this type of innovation.

The conditions that need to be met for open innovation to work are multiple and dependent on type of activity that SME is after for. Nevertheless, a few elements are necessary. External partner. The SME needs somebody from outside to work together with. External partners may be: business partners both vertical and horizontal (suppliers, distributors, […]