Seminar: Open Innovation and Corporate Entrepreneurship

The ABIS Global site announced that an Open Innovation and Corporate Entrepreneurship Seminar will be held at the ESADE Business School, Barcelona, Spain on May 18, 2015. Henry Chesbrough, Ken Morse and Wim Vanhaverbeke, the three renowned experts who have been helping companies find the right paths to achieve success for more than 20 years, will provide insights into the key aspects of global entrepreneurship, intrapreneurship, vertical market focus, global sales and sales management, open innovation and corporate venturing. The topic of the course is “Using New Business Models to Create Major Sources of Revenue and Profits”.

 

 

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The Changing Role of the CIO – Driving Innovation

The IT News Africa website writes that considering that IT touches almost every aspect of business operations, the CIO and his/her leadership team are in the unique position to identify innovation opportunities across the enterprise and develop rapid and aggressive ‘digitalization’ strategies. The concept of open innovation ecosystems pulls together participants from a broad variety of research backgrounds (scientific, tertiary education, technology etc), together with business leaders from different sectors. Fusing insights from these differing domains of knowledge generates new ideas, new approaches to solving problems, and opens up what previously would be considered as unlikely collaboration opportunities.

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Scientific Research to Benefit from More Open Innovation

The IdeaConnection website reported that open innovation is giving science a big boost with the announcement of a challenge fund to advance bioelectronic medicine research and the launch of an open innovation stem cell technology center. To foster collaborative research to develop bioelectronic medicines, GlaxoSmithKline  has created a $5 million innovation fund. This is on top of the $1 million that GSK has already committed to the Bioelectronics Innovation Challenge.

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Grand Challenge:a Better Protective Suit for HealthCare Workers

The Millionaire Corner website reported that Grand Challenges, a collaborative effort by the governments of the U.S. and Canada and funded by both governments as well as by the Bill and Melinda Gates Foundations, offers grants through specific initiatives to solve problems that exist in the health care fields around the world. The latesy Grand Challenge is a hot-topic one: to invent a better personal protection suit to protect healthcare workers from diseases such as Ebola. The way the Grand Challenges work is that anyone who wants is invited to participate through an open innovation platform online to exchange ideas. Anyone who has an idea that requires funding is invited to participate in a competition for funds, which require specific concepts and plans for implementation of the idea.

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Executing Lean Growth Strategies

The Business and Leadership website noted that lean thinking, customer development frameworks and business model innovation are transforming how new products are built and how growth strategies are developed. These frameworks help organizations design products that customers need and help reinvent their business models. Lean offers ways to cut work time and eliminate waste. Customer development takes a customer-centric approach to understanding customer needs and problems.  The term ‘business model’ means the design of a business.  Business model innovation  looks at how a business reinvents itself in order gain competitive edge.

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Success With Open Innovation Portals

The Idea Connection website noted that the high costs associated with R&D functions, the equally high risk of failure and uncertain economic conditions has led to an increase in the adoption of open innovation methods. They include technology scouting, partnerships, knowledge brokering, idea contests and crowdsourcing. One approach that’s been gaining a lot of traction recently is the open innovation portal. This is an online platform where suppliers, partners and even the general public can submit technologies that may be of interest to a company.

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Open innovation and Bioscience

A blog on the BBSRC website noted two key concepts that are essential to developing a true open innovation environment. The first is proactive management of intellectual property (IP). Many people confuse open access with open innovation – open access is one model of open innovation where IP is made freely available. However IP can be managed in many ways. In a closed innovation system IP is restricted to the IP holder whether that’s a company or an individual.  IP can also be licensed or transferred for others to use and commercialize. The second concept is really a cultural one – to accept that others might have better resources to develop your IP than you and with this comes a need to share risk and reward.
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