Open Innovation

Our journey of open Innovation

Mr. John Bell –Head of Strategy and Business Development of Philips Research– opened the event with a presentation on ‘Open Innovation – our journey’. The presentation gave us a view on how Philips Research is working on open innovation and shared success stories as well as lessons learned.

Learnings in Open Innovation Challenges and Best Practices

Twenty-two innovation managers from 16 companies attended the meeting. The participants to the event were asked to complete a part of the Open Innovation Maturity Assessment beforehand. This Open Innovation Maturity Assessment is developed by Philips in collaboration with universities and external companies to measure and benchmark excellence in open innovation. Herewith some of the findings

• All companies are actively involved in Open Innovation activities
• Over 40% of the respondents report that Open Innovation is explicitly incorporated into a communicated strategy and explained and stimulated by management. In about 20% of these (8% of the total) the strategy of Open Innovation is Demonstrated by management who “walk the talk”
• In half of the companies there are communicated targets which are in line with the Open Innovation strategy of the organization
• 40% of the companies actively expands its network with more diverse new parties, while half the companies have repeating contacts with several already known parties
• About 40% have champions and scouts screen the external environment for new opportunities that are useful do this activity.
• Few companies have all employees actively continuously searching for external opportunities
• Over sixty percent keeps IP very much for themselves and minimally gives away IP under strict conditions. Only a small minority (less than 10%) focuses on win-win contracts.

The main findings of this assessment were discussed in breakouts. The Ambassadors for Innovation identified the key barriers that they encounter in addressing and implementing Open Innovation. The main gain of the breakouts was cross learning from experiences of the participants. As such a real Open Innovation event.