VOIS - Area 1 - Module 5

  1. MODULE TITLE

Module 5: Building win-win scenarios for open innovation projects
  1. AUTHORS

Marina Dabić, Tena Obradović Posinković
  1. SHORT DESCRIPTION

The focus of this module is to assist participants in cultivating "business empathy," which involves comprehending the objectives of partners and creating project objectives that consider priorities and allocate risks. In addition, it will offer guidance to participants on how to minimize tensions within the partnership. Moreover, the module will foster participants' comprehension of how to uphold key principles of collaboration, such as the equitable distribution of benefits, contributions, risks, and ownership.
  1. LEARNING OBJECTIVES

    Upon completing this module, you should be able to:

  • A) understand the benefits and obstacles of open innovation projects
  • B) understand the importance of developing business empathy
  • C) understand how minimizing friction within a partnership and preserving key principles of collaboration can ensure successful open innovation projects
  1. Training Content
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Open innovation projects

In recent years, open innovation has garnered significant attention due to its perceived advantages, such as better adaptability to shifting market demands, shared risks and resources among partners, and increased commercial returns . Open innovation projects involve collaborating with external partners, such as customers, suppliers, and other companies, to develop new products, services, or processes. The idea is to leverage the knowledge and resources of external partners to complement and enhance a company's internal capabilities. Open innovation projects can take many forms, from crowdsourcing ideas for new products or services to collaborating with academic researchers to develop new technologies , . In some cases, companies may even work with their competitors to jointly develop new products or standards.

Open innovation projects are often seen as a way to accelerate innovation and bring new products or services to market more quickly. By leveraging the knowledge and resources of external partners, companies can reduce development costs, improve the quality of their products, and gain access to new markets and customers . Building win-win scenarios for open innovation projects involves creating mutually beneficial relationships between all parties involved.

Source: https://www.freepik.com/free-photo/asian-businessmen-businesswomen-meeting-brainstorming-ideas-about-creative-web-design-planning-application-developing-template-layout-mobile-phone-project-working-together-small-office_10075784.htm#query=collaborative%20projects&position=2&from_view=search&track=ais

The agro-food and bioeconomy SMEs are prime candidates for open innovation because they involve complex systems and require a multidisciplinary approach . SMEs can benefit from open innovation projects in different ways. For example, open innovation allows SMEs to tap into a diverse range of knowledge and expertise from external partners. This can lead to the creation of new products, services, and processes that are more innovative and effective. By collaborating with external partners, companies can reduce the costs and risks associated with research and development. This is because they can share the costs and risks of innovation with their partners, which can lead to a more efficient use of resources.

Next, open innovation can help companies bring products and services to market more quickly by leveraging the expertise of external partners. This can be especially important in the agro-food and bioeconomy sectors, where time-to-market can be a critical factor in success. Open innovation can also help companies better understand their customers' needs and preferences by involving them in the innovation process. In order to ensure win-win scenarios for OI projects, SMEs need to develop business empathy, minimize friction within the partnership and protect key principles of cooperation.

Take a 3-5 minutes and think:

1. What are some of the key challenges that arise when implementing open innovation projects, and how can these challenges be addressed?

2. How can open innovation projects be designed to effectively balance the benefits of collaboration and knowledge-sharing with the need to protect intellectual property and maintain competitive advantage?

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