Open Innovation is characterised by a networked, dynamic ecosystem where actors from different environments – academia, civil society, businesses or governments – become part of the innovation process. Building on collaboration and co-creation, Open Innovation facilitates and accelerates knowledge circulation, can foster economic growth and help to solve societal challenges. It is therefore characterised by openly and cooperatively sharing of ideas, expertise and technologies, collaborative work and co-creation processes, open source practices and knowledge circulation.
The Open Innovation paradigm acknowledges that valuable ideas and technologies exist both inside and outside organisations, and by being open to external contributions, research institutions as well as companies can enhance their innovation capabilities.
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