Mike Spits – Entrepreneurship Industry – Week 40

Mike Spits – Entrepreneurship Industry – Week 40

Good afternoon readers,

This weeks blog is about the article Open innovation: State of the art and future perspectives by Eelko K.R.E. Huizingh.

There is no clear definition for the concept of open innovation, because it can be implemented in various different ways. Open innovation has attracted a lot of attention recently, that is why it is a hot topic in innovation management. In literature databases such as Google Scholar there are more than two million hits about this subject.

The concept itself is innovation through a more sharing idea. The boundaries between companies and the environment they work in are more permeable. This gives it a ”think outside the box” twist, where creations and ideas are shared with others so that the companies and/or government can work on a product or service together.

The article itself discusses various models of innovation, such as closed innovation, private open innovation, public innovation and open source innovation. Besides that Huizingh explains us his research about the effectiveness (sharing costs, more sales) and the context of the innovation process (external and internal).

After reading the article, I became more aware of the results of sharing economy. During my internship at the economic board we have to come up with a business model for such ideas. In my opinion sharing is a big part of the future, and the article gives it a good boost. The information that this article brings may stimulate entrepreneurs to become more open and work on projects together. This article is relevant to all entrepreneurs, so there is no specific target group.

I recommend reading the article, especially if you follow the courses of the entrepreneurship minor. Thank you for reading my blog, and see you in a few minutes when I tell you about my internship.

Mike Spits

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Reference: Huizingh, E.K.R.E. (2011) Open innovation: state of the art and future perspectives. Technovation, 31, 2 – 9. 

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