A New Step-by-Step Model for Implementing Open Innovation

Eleni N. Arvaniti, Agapi Dima, Chrysostomos D. Stylios and Vagelis G. Papadakis
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Eleni N. Arvaniti: Department of Environmental Engineering, University of Patras, GR 26504 Patras, Greece
Agapi Dima: Computer Technology Institute and Press “Diophantus” (CTI), GR 10563 Athina, Greece
Chrysostomos D. Stylios: Industrial Systems Institute, Athena RC, GR 26504 Patras, Greece
Vagelis G. Papadakis: Department of Environmental Engineering, University of Patras, GR 26504 Patras, Greece

Sustainability, 2022, vol. 14, issue 10, 1-17

Abstract: Open innovation has been found to have many benefits and tangible results for those who partake in it. This study aims to showcase the importance of open innovation, and through a theoretical example present how an organization (university, research center, company, firm, etc.) can take action to implement open innovation guidelines. In this paper, firstly, a demonstration showing how open innovation can work with multiple partners is shown. Secondly, a model is presented that shows the steps an organization must follow to successfully implement open innovation. This model covers the introduction of an organization to open innovation from the initial interest to the implementation of the final product. Several success stories are also presented to demonstrate how these steps have been used by major organizations during several collaborations as well as the results produced from implementing open innovation.

Keywords: open innovation; SMEs; research centers; growth; sustainable development (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
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