OPEN INFORMATION PROCESS- ING WITHIN INNOVATION NET- WORKS NEWSLETTER #1 What is Open Innovation? “Open innovation is a paradigm that assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as the firms look to advance their technology” Henry Chesbrough Open innovation is the practice of looking beyond the four walls of your company - to suppliers, universities, produ- cers of complementary products and services, and other firms - to identify and capitalize on new opportunities for innovation. It's the hottest trend in innovation today. Open Innovation is not about… …but about • open access to own technologies • strategic IPR manage- ment • outsourced R&D • strategic R&D • technology only • both technology and business model • technical invention • commercial innovation • appropriating value • win-win partnership • new ventures • core product develop- ment process • partnerships only • innovation ecosystem building • cutting research costs • improving R&D Return on Investment Wh Inf InfoP • T ti • Ai d b • E s a The o • In wi • D ti • F a • S m at are the objectives of Pro? ro rgets information processing needs of innova- n networks and innovation stakeholders ; ms at reinforcing the impact of the information and ta shared and exchanged by means of transfer of st methods and tools; hances the ability of the participating networks to pport their members innovating in a more effective d open way. verall goals of InfoPro: itiation of an intensive exchange of experiences ithin the participating networks; issemination of best practices to external innova- n stakeholders; stering open innovation and competitiveness by adequate access to relevant know-how; pport for the establishment of collaborations to arket innovations.