Assessing Open Innovation Readiness
Innovative firms grow twice as fast, both in employment and sales, as firms that fail to innovate.
Open Innovation has been a very noticeable trend in the last few years, with particular emphasis on corporate collaboration with startups and scaleups.
This is especially visible in high-tech industries where the rate of innovation is accelerated and where knowledge is distributed across multiple organizations, making it more difficult to innovate internally.
Done well, this provides a route to scale for young companies, and an important means by which larger firms can innovate.
Mind the Bridge through its Open Innovation Readiness Index provides a measure of the company’s innovation potential, factoring in a detailed assessment of:
-
Innovation Strategy and Organization (internal approach including top level buy-in, dedicated Open Innovation Unit / CIO, process and culture, intrapreneurship),
-
Open Innovation Actions (external approach factoring exposure, startup acceleration, venture building, procurement, investments and acquisitions).