The keyword “Industry 4.0” is no longer an empty cliché or a black box; it is currently probably the most important topic within the German economy. Not only will existing processes be revolutionized – but also new businesses and business models will arise. More and more companies have already started to tap into its potential.
“Open Innovation and technology scouting are vital for us to stay ahead of competition and identify cutting edge technologies that will allow us to propose the best products to our consumers”. In this interview, Steven Vaassen, Open Innovation Leader at Philips Consumer Lifestyle, shares his view on OI and how Philips is organized to decide when and how to use Open Innovation.
In Parts 1 & 2, Gordon, newly appointed CEO of PharmaX, is confronted with a serious innovation gap in the next 5 years. His pipeline of projects is quality but high risk. From an arm’s length point of view, he sees that he has 3 options: business as usual, R&D budget cutting or rethink the way PharmaX assets are being used to redefine a new strategy. In Part 3 we will see how Gordon draws on his experience in customer needs driven innovation and managing his team, to carve out a daring innovation program.
In the first installment, Gordon the newly appointed CEO at Pharmax is confronted with an innovation gap of 5 years. Certainly, the potential of the portfolio is high, but the risks are even higher. With market pressure breathing down his neck, Gordon tries to make sense of the options that he has and make the right decisions.
Open innovation crowd sourcing methods, when applied to the right problem, can effectively extend the solution provider search beyond the boundaries of an industry. This article presents the application of a targeted broadcast crowd sourcing method to identify unobvious solution providers for a German chain-drive industry consortium. The majority of solutions submitted through this method were previously unknown to the consortium. This evaluation demonstrates the power of open crowd sourcing to provide solutions from discontinuous industries and how effective crowd sourcing can be in open innovation.
Synthetic biology moves us from reading to writing DNA, allowing us to design biological systems from scratch for any number of applications. Its capabilities are becoming clearer, its first products and processes emerging. Synthetic biology’s reach already extends from reducing our dependence on oil to transforming how we develop medicines and food crops. It is being heralded as the next big thing; whether it fulfils that expectation remains to be seen. It will require collaboration and multi-disciplinary approaches to development, application and regulation. Interesting times ahead!
Last year I came in contact with the co-founder and advisor of the Biorrefiniria Brasil open innovation community, José Augusto T. R. Tomé. He started an interesting venture within the chemical sector, a venture focused on biorefinery. Read further to learn more about his vibrant innovation community and open innovation in general.