Bridging innovation and commercialization to create value: An open innovation study

Yun-chu Wang, Fred Phillips and Chyan Yang

Journal of Business Research, 2021, vol. 123, issue C, 255-266

Abstract: The paper demonstrates how ITRI (the Industrial Technology Research Institute), an internationally prominent non-profit R&D organization, designs a platform-based open innovation system to capitalize on its efforts toward creating economic and social value. We illustrate a holistic framework spanning idea generation to commercialization, and present successful ITRI cases. Detailed actionable descriptions of activities in each innovation stage illustrate the operational implementation of the end-to-end open innovation system. We find distinctive success factors: (1) Managers examine their open innovation strategies and activities by viewing the open innovation process from a system perspective. (2) Outside and inside advisors with investment backgrounds help commercialization planning. (3) A neutral catalyst organization within ITRI is a critical player, maintaining the smooth flow of the end-to-end process. Our findings provide important implications for research and management in open innovation as well as for the systematic commercialization of innovation.

Keywords: Innovation commercialization; Organization design; Open innovation; Platform (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:123:y:2021:i:c:p:255-266

DOI: 10.1016/j.jbusres.2020.09.052

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