Today’s University is a rich resource for companies seeking game-changing technological breakthroughs. In this in-depth article Melba Kurman looks at the benefits of open innovation partnerships between companies and American university researchers.
In today’s “knowledge-based” society, it is becoming increasingly imperative for companies to “mine” knowledge and technology generated by universities. Why? Because the outcome of such industry-university collaborations help companies create new activities and jobs.
Make sure your internal innovation capabilities and processes are in order before you open up your idea and innovation strategy to the world.
The benefits of open innovation during the current economic downturn have only recently been analyzed. Henry Chesbrough and Andrew Garman have recently published a Harvard Business Review article (June) on this. Wim Vanhaverbeke, Professor of Strategy and Innovation at Hasselt University, Belgium, provides some additional benefits when companies apply open innovation in a downturn, which has not been mentioned in the HBR-article.
Many companies pay substantial yearly fees in order to protect their patents. But what business benefit do these patents really generate?
