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Spirit of adaptation, mental flexibility and winning defense strategy are some of the key elements for the success of a start up. What instead allows a company to evolve over time, keeping up with market changes and intercepting the new and growing needs of consumers, is innovation. Today, to be competitive, a company can no longer do without innovation, and internal innovation is no longer sufficient. The main reasons that in recent years have pushed companies to focus on external ideas are closely linked to the field of research and development, the continuous diffusion of knowledge and technology; in fact phenomena such as globalization have caused rapid changes in the economic landscape: reduction of the life cycle of products, significant increases in costs for Research and Development processes, limited ideas from the R&D department.
Open Innovation is summarized in two main processes: outbound and inbound. Outbound innovation is generally still not very widespread as it is considered risky, as it is divided into a process of externalization Malaysia Phone Number List of internal ideas and stimuli, characterized by the objective of bringing innovation outside the company. Inbound, on the other hand, is based on the external search for new ideas and new projects, aimed at bringing innovation within the company. To carry out Open Innovation, companies prefer the acquisition of innovative start-ups, since it is generally a win-win situation. Companies secure new ideas, technologies, skills and at the same time can deal with a leaner organizational model.
Almost all leading Italian companies have created an ad hoc division within Open Innovation. Acquiring strategic awareness of innovation. Research by Startup Intelligence Observatories and Indonesia WhatsApp Number List Digital Transformation Academy highlighted. How in 2021 in Italy, 81% of large companies invested in Open Innovation and of these, 49% carried out collaborations with startups. This highlights how even on Italian territory. Companies are also expanding towards non-traditional players. Creating an environment focused more on external innovation. As a consequence, startups have found fertile ground to become protagonists. Stimulating development and the propensity towards innovative markets.