Open Innovation in Developing Economies: A Video Blog
Last month I had the opportunity to serve on a panel discussing the implementation of open innovation models in developing countries at the Franklin Pierce IP Center based in the law school at the University of New Hampshire. Titled “IP and Open Innovation: Challenges in Global Development,” this conference brought together a wide range of professionals, professors, and researchers with expertise in open innovation. (Thanks to Stan Kowalski for inviting me!)
For my presentation, I discussed how developing economies would be well served by approaching their R&D and IP management through what we at Fuentek call Symbiotic Innovation. As I’ve blogged before, Symbiotic Innovation involves working both sides of the R&D and commercialization equation at the same time. Rather than view the activities associated with “spin-out” of internally developed technologies as separate from the efforts to “spin-in” external innovations to solve internal R&D challenges, Symbiotic Innovation recognizes that these activities are mutually beneficial.
Engaging both sides in a proactive, concerted manner is especially important in developing economies. In fact, I see it as one of three key requirements for their success:
- Create an entrepreneurial ecosystem
- Provide funding and infrastructure
- Look externally for technologies and applications (i.e., Symbiotic Innovation)
For more of my thoughts on this, check out the video below (which we were able to prepare courtesy of the University of New Hampshire School of Law).
The Symbiotic Innovation concept clearly resonated not only with the conference attendees but also with the other panelists, several of whom invoked the term throughout the day’s discussions. To hear some of their perspectives on open innovation in developing economies, check out this video that the UNH School of Law prepared.