Affiliation:
1. Innovation Management, Aarhus University
2. Digital Strategy and Transformation, University of Antwerp
Abstract
Abstract
Open Innovation (OI) has proven to be important for the survival and growth not only of large corporations and multinationals but also of small firms and medium-sized enterprises. The way small and medium-sized enterprises (SMEs) have to organize and manage OI is also different from that of large companies. This chapter will provide an overview of the current literature highlighting the main OI practices in SMEs and describe their benefits, challenges, and risks. Moreover, the chapter also elaborates on the good practices of OI management and the transition from a closed to an open innovation model, along with the corresponding policy implications.
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