Breakthrough Innovation 2012

Gallery Hotel, Barcelona, 14 & 15 March 2012

Now in its fourth year, Breakthrough Innovation 2012 will once again bring together leading experts from the world’s most innovative companies to share best practice tips and discuss the latest trends and developments.

The conference will feature a variety of sessions designed to maximise social interaction and knowledge exchange, including brainstorming sessions, talking circles, panel debates and keynote case studies.  There will also be plenty of time to discuss the content with your peers during our networking breaks.

Last year’s event attracted over 100 attendees from FT500 companies and from as far away as Brazil & Canada.  We are expecting 2012’s Breakthrough Innovation conference to be as popular as ever!

Openinnovation.eu readers can benefit from a 10% discount off the registration fee by using the discount code BI12-06 on the registration form.

More information can be found here.

What trends make Innovation Managers sweat?

After having succesfully launched a poll in December, we decided to drop a new question for you. 2012 has just started and many newspapers, blogs and video’s are trying to show us the trends for upcoming year. Summarizing speeches of professional trendwatchers I ran into lately, I could identify a few trends that are interesting for 2012.

Epxerience economy

Most of the trendwatchers are seeing trends in the way consumers are acting in the market. Started off already years ago, the experience economy will get to its highest point in 2012. Consumers are no longer looking for products, new technologies or sustainable services only, they are digging deeper, willing to get unique experiences that come along with the products and services they buy.

Time-to-innovate is outrunned by speed of market

Another trend is the fact that, due to globalization and rapidly increasing access to broadband internet and mobile apps, consumers needs are changing faster than we could ever imagine. This doesn’t mean they aren’t loyal anymore, they are just looking for great experiences and consumers will get loyal to companies who can adopt faster than the consumers can even imagine. If we don’t innovate faster, we are running into the opportunity that our Time-to-Innovate will be much longer than our consumer loyalty can handle.

Influencers

Another interesing trend is the rate of influencability of “the guy from the block”. Well, a guy with a lot of twitter followers, a huge Facebook fan list or some other form of social influence. We all know that influencers are paid by large brands, but hey, if they are integer, they will also publish about those small brands that we didn’t know of. And it’s those influenceable posts that start ruling our marketing. It makes our campaigns viral and it can ruin multi-million-dollar campaigns in seconds as well. Just be prepared.

So what do you think:

Please fill in our poll and we’ll come back to this later!

Greatest advantages of Open Innovation

Last month, we released a Poll on linkedin and dropped the question “What is the greatest advantage of Open Innovation”. Quite some people voted and a good discussion started off. The results were as following:

 

 

 

What is the greatest advantage of Open Innovation?

The result was not completely unexpected. Obviously, on the first hand, Open Innovation is meant to innovate faster and better. To my opinion, and some of the comments support this, gaining and sharing knowledge, building a network and having close insights in customer needs, are just the means to get there.

According to Vincent Toepoel: “In my experience, the financial plan will be easily accepted. But rolling it out within the organisation and the social aspect that comes with that, is more often than not a great barrier to managers. [There is no reason for that, because] the execution of an Open Innovation project is something that gives a lot of satisfaction to all participants.”

Jan Mölls dropped the interesting question: “I would like to specify “faster” and “better”. They both have strategic as well as operational aspects.” He then provides some intesting aspects to keep in mind. And Toepoel reacted: “Besides being faster and better, Open Innovation can be potentially be much cheaper.”

Herm Verbeek summes it all up: “Sometimes Open Innovation is not only a faster or better way, it is the only way.”

New Poll: What trends make Innovation Managers Sweat?

Exclusive preview: Managing Open Innovation

We collaborated with Marcel Bogers, Associate Professor* at the University of Southern Denmark, to show you an exclusive preview of a lecture on “Managing Open Innovation”, that will air on Danish television later this winter. The lecture is about the “sources for innovation”: how to obtain and make use of external knowledge to commercialize ideas into innovations.

The talk focuses on Open Innovation and the role that companies and users play in the process. He addresses three steps:

  1. Obtaining
  2. Integrating
  3. Commercialization

In obtaining external knowledge for innovation, he firstly shows some examples of companies collaborating. When the talk continues, he moves towards the increasingly important role of consumers in this process, building a bridge between Open Innovation and, for instance, Co-Creation. Marcel Bogers referring to an example of the development of the internet:

“Is it something that came about because some large firm invested a lot in R&D and is now making a lot of money from it? Not really. It was Tim Berners-Lee – who was working at CERN in Geneve – who invented the internet. Did it came from large R&D investments? No, he just needed something to work more effeciently. So in fact, users are very important sources of innovation.”

His elaboration on co-creation as a substantial element of Open Innovation, is (in my opinion) one of the best parts of the lecture. Bogers gives several great examples of products that make up our daily routines and are basicaly invented by ourselves. Bogers: “Sometimes, it doesn’t come from users, but from specialists or small groups of users. And sometimes the experts and users join forces.”

He also refers to a recent study on the impact of consumers in R&D. In the UK alone there are some 3 billion people involved in innovating activities and they spend approximately £5 billion  on technological innovations. This is incomparable to the roughly 22.000 people actually working in R&D and is twice as much expenditure as corporate R&D. This leads to the hypothesis that the closed model of innovation isn’t longer valid anymore.

Watch the full lecture:

Do you have any further questions?

Bogers indicated that he will be glad to answer any questions regarding his talk: “If you are interested in
some of the references, let me know, as most of the references to the research upon which I base the talk aren’t visible in the lecture. Most of the material is coming from my own work with various collaborators, and I would be happy to share or discuss this work.” Please feel free to drop your question or remark below.

We will update this post once it has been aired on Danish Television.

*As of Febraury 1, 2012.

The best Open Innovation posts of 2011

The year is almost over and many of us are spending our holidays search our social media accounts for interesting blog posts while watching the snowflakes or, in our case, the raindrops falling. To make this year’s ending even more comfortable for you, we have searched through the web to gather the best Open Innovation posts of this year.

Note: we have used search enginges such as Twitter’s Advanced Search, Google Search Blog, Digg Search and Delicous Search to create this list. But most of all, we have used our common sense 😉

  1. Create Employee Networks that Deliver Open Innovation – Sloan Review, MIT
    A small number of “idea scouts” and “idea connectors” are disproportionately influential in producing successful open innovation outcomes. Smart companies make sure they are linked.
    http://bit.ly/rJEkAh
  2. The Continuing Payoff from Open Innovation – Strategy Business
    At the heart of the innovation process is the search for new ideas and market opportunities with commercial value.
    http://bit.ly/tZ0rme
  3. 7 Ways to make Open Innovation Work – Investors Digest
    If your company isn’t innovating, it’s slipping behind the competition. With the Internet and the increasing flow of ideas and information,
    internal R&D departments alone aren’t always the answer. More than ever, business owners are embracing open innovation to stay ahead. Open innovation is more than a toolkit, it’s a mindset.
    http://bit.ly/t0iY2t
  4. Lego’s $50 Million Open Innovation Failure – Innovation Excellence (148)
    The headline screams like a disaster. It’s not really that bad. Yes, Lego took a loss around that size when they decided to shut down their
    online game, Lego Universe, but they also learned some valuable lessons.
    http://bit.ly/v1hpWQ
  5. From Open Source to Open Research: Horizon 2020 – ComputerWorldUK
    Last week I took part in a meeting at the European Parliament entitled “Horizon 2020: Investing in the common good”.  Here’s the background: Horizon 2020 is the EU´s framework programme for research and innovation.
    http://bit.ly/u4eccK
  6. Open Innovation Program to develop extreme weather Warning System – Daily Crowdsource
    The extreme weather conditions at the heart of many natural disasters that devastate the South American continent have prompted calls for a better way to deal with these catastrophes. Since the absence of an effective early warning system is a major concern, The Planetary Skin Institute (PSI), a non-profit global research and development organization, along with Brazil’s Ministry of Science, Technology and Innovation (MCTI) have recently announced an open innovation program.
    http://bit.ly/vx06Rq
  7. How Open Innovation Saved the Microsoft Brand – Innovation Excellence
    5 years ago, what was your impression of Microsoft? Even if the impression didn’t match the reality of what the company was innovating, terms like antiquated, stagnant and dinosaur of technology were routinely tossed about to describe the software Goliath. But what about today?
    http://bit.ly/sldGaZ
  8. Open Innovation for Heroes: introducting the Veterans Job Bank – Whitehouse.gov
    Today, the Obama Administration launched the Veterans Job Bank, a new search tool designed to help connect veterans with employers.  The Job Bank  works by bringing jobs listings directly to veterans—instead of the other way around—via a search widget that provides a single window into the myriad job boards, social media platforms, and corporate employment sites that are currently spread across the Internet.
    http://1.usa.gov/sIn55P
  9. Open Innovation Companies Help Inventors Move Ahead – NY Times
    Betsy Ravreby Kaufman is a lot of things — a freelance television producer, a former anchor, a wife and mother, a resident of Houston. One  thing she is not, she insists, is an inventor.
    http://nyti.ms/v8enhn

 

Sports & Open Innovation?

Open innovation: A well-known practice for the fans of football club FC Murcielagos in Mexico, where important decision are being made by the DT-Electronico (Electronic coach). Whenever important decisions are being made, supporters are invited to take part in the decision making process by voting through the web or test messages. Not a bad idea, since apparently the team is playing its best season ever (cf. A Bite Of).

Typical decisions to be made by fans include the line-up of the team, forcing the first substitution or who is being substituted by whom, and which player should be awarded a bonus for his performance during the match. An interesting approach given the current results.

However, this approach also raises a number of questions. Are these supporters indeed better managers, or are there other factors that should be taken into account? Could such a model be applied in other sports too? And.. what about more substantial issues, such as the transfer of players, or how much the club should offer to attract certain players? After all, deciding about the ‘man of the match’ is a decision far different from running the club as a whole, and the question arises as to what extent should one involve supporters and where should one draw the line?

Inpex 2012 Open Innovation Conference

Inpex, America’s largest invention trade show, will host the 2nd annual Open Innovation Conference. On June 13 & 14, open innovation experts and practitioners will come together in Pittsburgh, Pennsylvania to address the latest insight on open innovation throughout the innovation-to-market cycle.

More info can be found here.

Teaming up on Open Innovation: art or science?

Earlier this week, ABN AMRO, released a report on Open Innovation, titled “Teaming up on Open Innovation: art or science?”. Although solely released for the food sector, it explores Open Innovation theory from a new and interesting perspective. The report is authored by prof. dr. Omta (University of Wageningen), dr. Fortuin (Food Valley) and drs. Dijkman (ABN AMRO).

The core of the article consists of 5 key elements: the critical (failure) factors for Open Innovation.

What are the critical (failure) factors of Open Innovation?
  • Defining problems and setting goals: according to the authors there are three ways of overcoming this issue. First of all, do a lot of (premature) research and dare to stop when you’re on a dead end road. Secondly, create road maps. Meaning: use trends and market knowledge to look at least 5 years ahead, because that’s time it takes for a radical innovation to land. And lastly, “look different, look foward”, referring to Henry Fords quotation: “If I had asked people what they wanted, they would have said faster horses.”
  • Partner selection: try to find partners as fast as possible. Management commitment in this process is essential. Also, don’t be egocentric. Open Innovation is about contributing rather than perceiving. And lastly, there is more contracts. A succesfull collaboration is built by mutual trust and commitment.
  • Building a contract: set rules and find and define the risks that are involved in collaboration. It is easy to say that risks are inevitable, but in fact, they are not if you think about them thouroughly.
  • Executing the Open Innovation project: don’t let fear rule the process. It happens to every project that – at some time – there is some distrust or mistrust in the partnership. Invest in trust, do what it takes. Link cultures and communicate oftenly and profoundly. This also means investing in speaking each others (technical) language and managing conflicts.
  • Monitoring the project: start off by knowing how important costs are, how the project will be managed and what other preconditions are necessary during the project.

Art or Science?

Oddly, the report doesn’t give an answer to the question that is raised in the title of their work. Which gives us the opportunity to ask you: what do you think: is Open Innovation art or science?

“Innovation does not happen in a vacuum”

Last month, Rogier van der Heide, Chief Design Officer of Philips Lighting, spoke at TEDxAmsterdam about Open Innovation. He explained a few beaatiful examples of collaboration in the design phase to maximize possible outcomes. An impressive 7-minute speech, in which he – instead of using the normal powerpoint sheets – touched the audience by showing video’s, playing with light effects, got ‘Fergie’ of the Black Eyed Peace on the stage and made an old Rembrandt litteraly alive. More information on his speech: here.

On the Philips website he adds: “In order to get to innovations, it is essential to collaborate well and to share knowledge. Innovating is not something you do alone, it works like a ‘pressure cooker’, in which the innovation of LED technology is being accelarated in the application for – for instance – the illumination of art and buildings.”

He rounds off his speech with the following quote:

“Innovation doesn’t happen in a vacuum. You’re never alone. No one has the key just by himself.”

Stanford Technology Ventures Program: already 50K subscribers

Next January, new (free) courses on Technology Entrepreneurship will be offered at Stanford University. The programs consist of separate video colleges of about 8-12 minutes each, counting up to almost 2 hours a week on course material. And above all, this is – amazingly – completely for free. We would like to recommend the following two courses:

Technology Entrepreneurship

Do you want to know how to get entrepreneurial spirit into your – small or large – organization? Do you want know how to accelerate entrepreneurship and create new markets? According to their program website, these are exactly the questions that you will get answers for. The course will teach you about taking risks, managing ideas and turn these into opportunities. The courses are provided by professor Chuck Eesly. In this video he will introduce himself and the course:

Subscribe direcly for this course here.

The Lean Launchpad

Do you rather want to know how turn ideas into small companies or start-ups, when you are aware when there is no big money available? Do you prefer not to care about business plans, revenue models and organization structures? Then you’re wright, because this class will teach you nothing about that. It will teach you about turning those small ideas in the interesting business models for start-ups. It will make you ready for real practice. Steve Blank, a serial entrepreneur, will tell you more about it:

Subscribe immediately here.

Are you in?

Please let us know below if you are following the course and what you’re expectations are. Have fun.