In this chapter, we look into how companies can leverage external knowledge through various open innovation methods, such as crowdsourcing and partnerships. Mehdi Bagherzadeh explains that these methods come with different costs and benefits, making it essential to choose the right open innovation approach to match the specific needs of each project.
Discover the step-by-step approach to matching the right OI mechanism with your project’s needs, including choosing the right type of crowdsourcing (“fishing” vs. “hunting”) and the right partnership model (non-equity vs. equity); and understand why alignment is key to successfully completing open innovation projects.
