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http://fasttrack.roundtable.com/app/content/knowledgesource/item/1200
Open Innovation Networks: Creating and Managing an Ecosystem for Innovation – Audio Session Summary
Related Links: Audio | Transcript (24 pages) | Slides (42 slides)
In this audio session, Mike Docherty, CEO of Venture2, provides an understanding of the role of innovation networks within open innovation. Docherty introduces a framework for creating and managing networks and offers insights on partnering for success. He defines five major types of innovation networks: peer-to-peer networks, supply-chain networks, internal networks, “feeder” networks (where a larger, centralized entity leverages external partners in a coordinated development effort) as well as less formal – but targeted – events and forums. He recommends designing networks with high-level strategic goals in mind and then balancing structure with the need to be flexible and adaptable, while allowing the networks to evolve over time. Open innovation, emphasizes Docherty, allows developers to look for intersections between unmet consumer needs, enabling technologies, and marketplace opportunities. Innovation networks are a way to increase the speed and frequency of identifying those intersections.
(12 pages)
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