Open Innovation - definition, examples, Innompic Games

"
We are sure that you have an excellent internal innovation team. But, just like there are innovators in your company, they also exist outside of it. So, what stops you from taking advantage of that? This plethora of external innovators and skill teams brings a fresh perspective to your projects and suggests ideas for new ones from their varied range of experiences and expertise. Such external innovation not only enables you to solve some of the pressing challenges of your organization but also opens doors for novel business opportunities through corporate open innovation.

Now, let’s see how open innovation boosts your internal innovation. We’ll give you five real-life examples of global industry players. These case studies will give you an idea of how to successfully deploy corporate open innovation in your company and what kind of results you can expect!"

General Electric crowdsources New Ideas
General Electric is one of the bigshots that implements not one, but multiple corporate open innovation models. They are built on its GE Open Innovation Manifesto, which says, “We believe openness leads to inventiveness and usefulness.” To this end, General Electric crowdsources innovation from experts and entrepreneurs worldwide to solve various internal challenges.

One of GE’s significant initiatives is the First Build. It is a platform that enables the collaboration among designers, engineers, and budding innovators to share new ideas, mainly focussing on creating new home appliances. GE then makes the best ideas available for purchase so that companies develop them further and bring them to life.