For anyone who hasn’t noticed: Open Innovation is no longer cool – and that might not be a bad thing.

Five years ago, we introduced our framework The Ages of Open Innovation, arguing that Open Innovation would evolve from a marketing/communication-oriented playground into a practice expected to deliver hard economic value. That moment has arrived.

As we approach 2026, companies no longer feel the need to show they engage with startups. What they care about is value – revenue, margins, strategic impact. Open Innovation is now measured in those terms. This means fewer budgets for cosmetic initiatives (“innovation cosplay”) and cuts to anything that doesn’t clearly perform.

From the outside, the shift is visible, though blurred by latecomers who are entering the game just as others are stepping back. Signs include:

• Fewer corporate startup accelerators
• Close to zero sponsorships in support of startup programs
• Fewer job postings for open innovation roles
• Rollercoasting CVC investment activity
• Venture Client more integrated into procurement

In short: less Innovation Theatre (good news) and fewer resources (bad news).

The paradox? Innovation (including Open Innovation) is more than ever an essential component of corporate growth and long-term value creation.

If “burying” Open Innovation simply means innovation has finally become mainstream, embedded in corporate strategy, with the Chief Innovation Officer holding real power in the C-Suite, then fine: R.I.P. Open Innovation. Mission accomplished.

But if companies are cutting innovation budgets – open or not – just to boost declining EBITDA in the short term, then they are planning a much bigger funeral than the one for Open Innovation.

To be crystal clear:
No innovation, no company survival.
No survival, no party.