Cross-Industry Collaboration in Open Innovation: Unlocking Synergies for Industry Advancement

Agus Budiyono

Abstract


Open innovation has emerged as a key driver of industry transformation, enabling organizations to harness external knowledge, resources, and expertise to accelerate innovation and address complex challenges. While open innovation has primarily focused on intra-industry collaborations, there is a growing recognition of the untapped potential in cross-industry collaboration. This paper explores the significance of cross-industry collaboration in open innovation and its potential to foster synergies for industry advancement. It highlights the unique benefits, challenges, and best practices associated with cross-industry collaborations, emphasizing the need for effective knowledge exchange, trust-building mechanisms, and intellectual property management. Drawing upon relevant case studies and theoretical frameworks, the paper presents a comprehensive analysis of successful cross-industry collaborations and their impact on technological advancements, business models, and market disruption. The findings provide valuable insights for industry practitioners and policymakers seeking to leverage cross-industry collaboration as a strategic tool for driving open innovation and staying competitive in an increasingly interconnected and dynamic business landscape.

Keywords


open innovation, collaboration, synergy

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