Thursday, October 9, 2014

Open Innovation Practices of Companies - Websites

P & G  website to promote open innovation.

What is Open Innovation?

 According to P&G, open innovation, also known as crowdsourcing or co-creation, is a way for companies to harness the ideas and strength of people outside their organization to make improvements to internal processes or products.  Open innovation is also a way for companies to avoid the stale, repetitive thinking that can happen when employees are accustomed to their internal ways of solving problems. By including more outside ideas, companies can ensure their ideas stay fresh and new while providing opportunities for those outside their organization to participate in technology development.

How do Companies Benefit from Co-Creation?

Co-creation allows companies to expand their technology quickly by involving innovative people all over the world in voluntary work. While keeping trade secrets confidential, companies like P&G, can open information about problems they are trying to solve to the community at large to solicit new ideas. By drawing on a larger pool of ideas, we get insight from a rich diversity of people. From end-consumers with first-hand knowledge of the limitations, to experts in other disciplines unrelated to our products, the crowd has a unique and valuable perspective on the problems we try to solve every day.

How Can I Benefit from Crowdsourcing?

If you are a company or individual with an innovation that includes protectable intellectual property, you can submit your innovation through our submission portal. All ideas must be protected, usually through a granted patent or published patent application. If your innovation matches one of our current needs or if you have a new patented idea that you think we might be interested in, you can submit your innovation to P&G to be considered for an innovation partnership.

Astra Zeneca  Open Innovation Website

Magneti Marelli Open Innovation Site

Unilever Open Innovation Site

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