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Open innovation: core concepts and key challenges
Published on July 28, 2021 21 min
Other Talks in the Series: Open Innovation and its impact on business and society
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Welcome. My name is Henry Chesbrough and I'm a professor at UC Berkeley and also at Luiss University in Rome. I'm going to discuss with you today core concepts and key challenges in open innovation.
Open innovation emerged out of a book that I wrote back in April of 2003. At that time, I gave a Google search on the term open innovation and I obtained about 200 page links in response. Then when I looked through those page links, I saw that the word 'open' and the word 'innovation' had appeared in the same sentence, such as when a company opened an Innovation Center, but there was no meaning to the term itself at that time. In preparation for this address, I did the same search using the same search engine and I obtained more than 700 million page links. Although I did not read them all, it was quite clear that now there was such a thing as the open innovation concept. Another search I did in preparation for this talk is I went on LinkedIn and I searched on people in LinkedIn and used open innovation again is my search term. I found more than 700,000 people on LinkedIn whose profiles involved open innovation in some way. All of this suggests that open innovation has come a long way since the book first came out.