Startups and Open Innovation: Leveraging Collaboration for Success

Agus Budiyono

Abstract


The emergence of startups as key players in the innovation landscape has brought renewed attention to the role of open innovation in fostering their growth and success. This paper examines the application of open innovation principles and practices in the context of startups, highlighting their unique challenges and opportunities. By leveraging external knowledge, resources, and networks, startups can accelerate their innovation processes, mitigate risks, and gain a competitive edge in dynamic markets. We explore various open innovation strategies employed by startups, including collaboration with industry incumbents, engagement with research institutions, and participation in innovation ecosystems. Furthermore, we discuss the key enablers and barriers that startups encounter while implementing open innovation approaches. Drawing on real-world case studies, this paper provides valuable insights and practical recommendations for startups aiming to harness the power of open innovation to drive their growth, disrupt industries, and achieve long-term success.

Keywords


open innovation, collaboration, startups

References


• Bigliardi, Barbara, Giovanna Ferraro, et al. ‘The Past, Present and Future of Open Innovation’. European Journal of Innovation Management, vol. 24, no. 4, Emerald Publishing Limited, 2021, pp. 1130–1161.

• Chesbrough, Henry W. ‘The Era of Open Innovation’. Managing Innovation and Change, vol. 127, no. 3, 2006, pp. 34–41.

• Chesbrough, Henry W., and Melissa M. Appleyard. ‘Open Innovation and Strategy’. California Management Review, vol. 50, no. 1, SAGE Publications Sage CA: Los Angeles, CA, 2007, pp. 57–76.

• Chesbrough, Henry. ‘Open Innovation: A New Paradigm for Understanding Industrial Innovation’. Open Innovation: Researching a New Paradigm, vol. 400, Oxford University Press Oxford, 2006, pp. 0–19.


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