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Are You An Innovator? – Open Innovation at Philips – @lindegaard


by Stefan Lindegaard | facilitator and consultant focusing on open innovation | Consulting | Connecting | Promoting Email stefanlindegaard@me.com Follow Stefan on TwitterJoin Stefan’s group on LinkedIn That is the question Philips ask in their current open innovation challenge. Here students, entrepreneurs, and

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Publicado en by Stefan Lindegaard, Innovación, Innovation / Innovación

Reflections on Open Innovation and Intellectual Property


Intellectual property rights (IPR) used to be the key topic at open innovation conferences a few years back. Although still an important topic, this is no longer the case as companies mature on open innovation and find ways to solve these issues.

This development led me to downplay the significance of IPR when it comes to open innovation. Maybe I went a bit too far on this. I am reflecting on this after a session in my Danish network group in which we had a great visit by Jørn Vestergaard-Jensen, a Danish lawyer with good insights on IPR issues for open innovation.

Here I share some of the insights gained and reflections made by myself and the other participants.

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Publicado en by Stefan Lindegaard, Innovation / Innovación, Innovationexcellence.com

The Essential Element of Trust in Open Innovation


What are the barriers against building trust and relationships with stakeholders in your ecosystem

* Most organizational structures foster an internal rather than an external perspective.
* Most companies view external partners as someone paid to deliver a specific service rather than a source of co – creation and open innovation.
* Most companies are more focused on protecting their own knowledge and intellectual property rather than opening up and exploring new opportunities. They play defense rather than offense. This should not come as a surprise as one of the main objectives for corporate lawyers is to minimize risk, and it is fair to say that opening up to the outside world increases the risk element.
* Forging strong relationships takes time and personal commitment. We are just too busy to make it happen and it does not help that most companies do not provide the necessary time, resources, and encouragement to make this happen.

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Publicado en by Stefan Lindegaard

What is Open Innovation? | Crowdsourcing? | User innovation? | Co-Creation?


What is co-creation? Here Wikipedia states that co-creation views markets as forums for firms and active customers to share, combine and renew each other’s resources and capabilities to create value through new forms of interaction, service and learning mechanisms. It differs from the traditional active firm – passive consumer market construct of the past. I like how C.K. Prahalad and Venkat Ramaswamy argue that “value will be increasingly co-created by the firm and the customer, they argued, rather than being created entirely inside the firm.”

These terms overlap which leaves plenty of room for confusion, but I hope this short overview helps.

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Publicado en by Stefan Lindegaard

Is Corporate Venture Dead? Is Open Innovation the New Thing?


Once upon a time, we had many corporate venture units that invested in external projects as well as in internal projects from the corporate groups that they belonged to.

The number of units declined steadily during the last decade and it continues to do so in the aftermath of the financial crisis. One company that I have always admired is Danfoss Ventures, which is the corporate venture arm of Danfoss, a group with 26,000 employees working with refrigeration, air conditioning, compressors and more.

Unfortunately, Danfoss Ventures – my role model on corporate venture – is now dead. According to Executive Vice President at Danfoss, Nis Storgaard, this is about prioritizing resources where they make most impact.

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Publicado en by Stefan Lindegaard

Social Media Tools in Open Innovation Efforts


Companies have begun using social media tools in order to further build their networks and engage with their innovation stakeholders.

This creates what we can call touch points – situations in which a person or company interact with their current and/or future stakeholders.

Here are a few touch point examples:

• GE has an app for their Ecomagination challenge, which gives them an additional touch point that interacts nicely with their website for the challenge.

• Chris Thoen @cthoen is an active twitter on P&G’s open innovation efforts and others things related to innovation. This can help Thoen and P&G build an innovation leadership position as the innovation community appreciates efforts to distribute knowledge and insights.

However, Twitter is just one touch point in order to reach such a position. Other touch points could include a blog or a LinkedIn group focused on P&G’s corporate innovation capabilities.

• Whirlpool recently launched such a group on LinkedIn.

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Publicado en by Stefan Lindegaard

Top 3 Innovation Trends and Issues


What is happening in the innovation community right now? In this post, I give a quick overview of the top trends and issues based on the interactions I have had over the last month or so.

1. Communication

At the recent Open Innovation Summit, communication in a more holistic perspective was a key topic.

Jeff Boehm of InventionMachine gave a great presentation titled Marketing Innovation in which he argued that innovation success requires internal communication. He’s right and I will share more from this presentation in a later blog post.

At a Think Tank session during the summit, we also identified communication as a key characteristic for open innovation leaders. Some keywords on this were internal & external communication, consistent behavior & messages, deliberate strategy, top-down modeling, confidence to share what you know.

You should check out this post by Andrea Meyer: Unilever, Cisco, Whirlpool: Communication in Open Innovation

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Publicado en by Stefan Lindegaard
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