The Open Innovation Strategy Group (OISG) is a global open innovation consulting team that acts as an advisor to major private, public and non-profit organizations.
The Changing Face of Innovation
Innovation is rapidly becoming global, products are becoming increasingly complex and innovation cycles are now much shorter and faster. These reasons lead our clients to look for ways to strengthen their portfolios by using technology developed externally and by finding innovative ways to monetize technology that has been developed in-house.
Setting up an open innovation strategy requires building a strong technological intelligence platform to spot global market opportunities at a very early stage. It requires an understanding of different markets and industries that could hold important business opportunities outside the traditional scope of a given organization, and the process of finding these opportunities is often complex and expensive.
“Open Innovation means that valuable ideas can come from inside or outside the company as well. This approach places external ideas and external paths to market on the same level of importance as that reserved for internal ideas and paths to market during the Closed innovation era”
‘Open Innovation’ by Henry Chesbrough, Harvard Business School Press
Open Innovation Strategy Group
At Opinno, we leverage the knowledge collected through our global network of open innovation centers and our partnership with MIT’s Technology Review to provide valuable insights to our clients. Through our innovation and entrepreneurship competitions, conferences and articles, we source and evaluate thousands of business ideas every year. Also, using our network, clients are able to quickly and easily adopt an open innovation strategy with a much lower cost than developing the process in-house.
We help our clients define their strategic positioning, address their most critical challenges, and seek the technology they need to remain competitive in a global market. In order to accomplish this, we help them understand emerging trends and business models in technology, identify the highest-value opportunities in the market, and leverage them through vehicles as diverse as technology licensing, investments, acquisitions, joint ventures and in-house developments.
With the Open Innovation Strategy Group, we have the network necessary to facilitate strategic partnerships for our clients and link them to innovative ideas, business models, venture investors, startups, entrepreneurs, and engineers.
“76% of CEOs and business leaders interviewed for the study ranked business partner and customer collaboration as top sources for new ideas. This greatly contrast with internal R&D. which ranked eight as a source for new ideas – cited by only 14% of CEOs. However, only 51% say their organizations currently collaborate extensively”
IBM´s Global CEO Study
In order to create an open innovation strategy, our group works closely with our clients throughout the entire scope of the project. This process varies depending on client goals and may include the following elements:
- Definition of client goals
- Market Study
- Market dynamics and and overview of common business models
- Breakdown of emerging startups, disruptive players and large companies that are
working in the space
- Initial mapping of relationships between key players
- Analysis of emerging opportunities
- Development of detailed list of suggested activities clustered around business lines
- Screening and interviewing companies mainly from Silicon Valley and other areas with business models and/or technologies of interest to the client
- Value proposition creation for both the client and potential partners
- Scheduling of initial round of meetings between client and potential partners
- Diversification and risk management of client’s portfolio of initiatives (quick wins and big bets)
- Stress tests of company initiatives under various scenarios and development of possible responses
- Evaluation of real options generated by suggested business lines
- Development of action plan to roll-out approved initiatives