What are the Top Corporate Open Innovation Models?​

Aletsch Glacier, Switzerland  Fritz Geller-GrimmOwn work

The world’s most forward-thinking companies have been looking outside of their walls to expand their new innovation pipeline with an open innovation strategy. But what exactly does this open innovation concept mean, and what is the best way to deploy programs?

The short answer is that there aren’t straightforward answers to these questions, as initiatives will vary from company to company. For instance, Cisco runs an entrepreneur-in-residence program to identify potential acquisition targets, while The New York Times launched T-Brand Studio as an experimental agency services arm that became a core line of business within three short years.

“Corporate open innovation is really a mindset within an organization,” says Michele McConomy, Senior Vice President and General Manager of Corporate Innovation Services at RocketSpace. “It’s helping teams develop out-of-the-box ideas and do it in a way that can turbocharge the internal entrepreneurial spirit that made the company succeed in its earliest days.”



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