Open Innovation Ecosystem in Asia

Tobias Endress ()
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Tobias Endress: Asian Institute of Technology (AIT), School of Management

A chapter in Business and Management in Asia: Digital Innovation and Sustainability, 2023, pp 35-48 from Springer

Abstract: Abstract Open innovation can be a mighty instrument for improving an organization’s innovation capabilities. It has the potential to support companies in excelling in their business domain through innovation. Still, it is not an approach that is always easy to adopt or integrate into existing processes. Making the best use of open innovation requires specific skills to manage technology, knowledge and IP. A good balance of internal and external knowledge appears to be a crucial success factor. It is an important management task to balance internal and external knowledge to increase the innovation potential and, ultimately, the ability of an organization to be profitable and thrive in the market. The open innovation ecosystem in Asia is very diverse. It seems that the momentum for open innovation is increasing in the region, but there is still a lot of potential for improving its utilization; in particular, emerging economies might benefit from the Open Innovation approach. In this chapter, several aspects of open innovation are discussed, potential pitfalls are illustrated, and possible remedies and best practices are introduced.

Keywords: Open innovation; Innovation ecosystem; Innovation management; R&D; IP protection; SME; Digital governance; Corporate culture; Asia (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-19-6418-3_3

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DOI: 10.1007/978-981-19-6418-3_3

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