venture capital

Do you have an open innovation strategy?

vareska

In today’s business environment, where startups play an increasingly important role and disruptions come from unexpected corners of the business arena, embracing external sources of knowledge as part of an open innovation strategy becomes crucial!

Rotterdam School of Management launches a new programme focused on implementing such an open innovation strategy with a particular focus on the role of startups. What is the role of startups in today’s business environment and how can corporates and startups effectively cooperate? During this intensive two-day RSM Executive Education programme, you will discover the latest academic perspectives of corporate venturing and its role in the corporate innovation process. Building on company cases and your own experience, you will learn best practices from experts, and exchange knowledge and experience with your peers.

More info can be found here.

Innovation Ecosystem

Schematic overview to understand the complexity of the Innovation Ecosystem (Infographic)

Jan Spruijt

The Innovation Ecosystem

The Innovation Ecosystem is one of the most under-researched topics. One the one hand because policy researchers usually tend to focus more on polls, elections and international collaboration and business researchers usually tend to focus more on organizations and interorganizational collaborations. However, publisher Edward Elgar has repeatedly published interesting works on innovation policy, innovation systems and the like. An ecosystem of innovation could be described as, quoting Wikipedia, the flow of technology and information among people, enterprises and institutions [which] is key to an innovative process. It contains the interaction between actors who are needed in order to turn an idea into a process, product or service on the market. The Innovation Ecosystem is extremely important to the economy and welfare of a country or region. It is one of the main drivers of GDP. Over the past decades more research has been done on the dynamics behind these ecosystems and its subsystems. Below you’ll find a schematic overview of the innovation ecosystem. It will take you to the download side of Innovative Dutch, where you can download it in full resolution.

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Shell wants to invest in Open Innovation

Jan Spruijt

Shell indicates to be willing to invest hundreds of millions of dollars in technology-oriented companies for the next 6 to 8 years. according to belegger.nl. The website has published to following text (translated):

This step helps Shell to enable the use of innovations on new projects, according to the company.

Shell refers (amongst others) to the technology that enables the company to apply their resources more thoughtfully and smarter in their quest for oil and gas and in the improvement of the process of obtaining gas and oil. The investments are categorized under Shell Technology Ventures. ,,Ideas from outside our organisation are of great importance in the exploitation of R&D.. We want to be enable the brightest to develop plans and let them take advantage of our expertise and global impact of our company in order to use these technologies as quickly as possible on our projects”, according to the chief technology officer Gerald Schotman.

Besides investing in promising technological companies, Shell wants to focus on so-called spin-outs, organisational assets that become independent and on funds of venture capitalists.

As such a great example of Open Innovation in practise.

Innovation Management Game: start-up of the year

Innovation Management Game: start-up of the year

Jan Spruijt

Just like last year, we’ll publish a (small) list containing the most promising start-ups of the year. Obviously, we’ll share our opinion from the perspective of Open Innovation by answering the following questions:

  • Does the start-up contribute to the field of Open Innovation?
  • Does the start-up contribute to the field of Innovation Management?
  • Does the start-up contribute to the European knowledge economy?
  • Is the product/idea innovative?
  • Does it meet customer needs?

1st: Innovation Management Game

This year, the number 1 position goes to the Innovation Management Game. The Innovation Management Game is a business strategy simulation game for universities, higher education, business schools and corporate/executive trainings. The game centralizes topics like Open Innovation, Co-Creation, Innovation Management and Business Model Innovation.

Does the start-up contribute to the field of Open Innovation? 5/5
Does the start-up contribute to the field of Innovation Management? 5/5
Does the start-up contribute to the European knowledge economy? 5/5
Is the product/idea innovative? 4/5
Does it meet customer needs? 5/5
Overall: 4.8/5

2nd: Owlin

The second position goes to Owlin; a start-up in the financial sector that scans and analyzes social data and creates insights in financial opportunities before organisations and press offices would be able to recognize it themselves. Owlin is part of the Rockstart’s Acceleration Programme and received earlier this week €200.000 euro on venture capital.

Does the start-up contribute to the field of Open Innovation? 4/5
Does the start-up contribute to the field of Innovation Management? 4/5
Does the start-up contribute to the European knowledge economy? 5/5
Is the product/idea innovative? 5/5
Does it meet customer needs? 5/5
Overall 4.6/5

 3rd: Fosbury

Just a few months online, however already getting wide attention, Fosbury. A start-up, developed by two of the former founders of Yunoo, that enables organization to quickly segment and advertise coupons and vouchers to smartphones. We’re expecting this type of organisation to set back the traditional paper advertising markets before the end of 2013.

Does the start-up contribute to the field of Open Innovation? 4/5
Does the start-up contribute to the field of Innovation Management? 3/5
Does the start-up contribute to the European knowledge economy? 5/5
Is the product/idea innovative? 4/5
Does it meet customer needs? 5/5
Overall: 4.2/5