Open Innovation has become a cornerstone of corporate strategy, with 95% of corporations now embracing it.

This shift reflects the growing need for companies to remain agile and competitive in the face of disruption. Established incumbents are particularly vulnerable to market shifts – only 41% of the companies on the current Fortune Global 500 list were present in 2000, highlighting the constant churn and the imperative to innovate.The real question, however, is how “proficient” these companies are in Open Innovation.

Our analysis of the Fortune Global 500 reveals that only 42% of companies take a comprehensive and holistic approach, mastering multiple tools and practices. Interestingly, this percentage closely aligns with the proportion of companies that have maintained their position in the index since 2000. 
While there is no established correlation between these two data points, it may be worth monitoring whether a comprehensive Open Innovation approach could influence long-term inclusion in the Fortune Global 500.

As the adoption of Open Innovation grows, the landscape continues to evolve. 
New tools are emerging, with Venture Builders becoming a significant new player despite some setbacks, while models like Corporate Accelerators are on the decline. We’re also seeing increasing hybridization and sophistication in these models. The ability to master a multidimensional approach to innovation is key, 
as demonstrated by companies like Nvidia.

The ultimate goal of the ‘Corporate Startup Stars Awards’, a global Open Innovation award run by Mind the Bridge and the International Chamber of Commerce (ICC), is to showcase the leading companies and identify emerging trends and best practices, as evidenced by over 15 use cases included in our report.