Are you considering joining the Luxembourg Open Innovation Club?
Here are 4 key reasons for choosing open innovation:
Increase innovation opportunities
- Develop your innovation capacity by adding new external projects
- Enrich internal R&D projects by cross-fertilisation (NIH vs PFE*)
- Spot (and possibly monopolize by acquisition) before the competitors the promising new technologies and business models
*NIH: Not Invented Here / PFE: Proudly Found Elsewhere
Save time and costs
- Outsource a part of your R&D
- Strengthen productivity
- Save time on the innovation cycle
- Limit and share the risks
- Corporate venture: invest early on the most expanding projects (economic interest but also barrier to competitors)
Improve your brand image
- More media coverage (more projects = more news = more buzz)
- Strengthen the image of an innovate company
- Reinforce the socially-responsible image (caring about local economic development)
Initiate internal awareness
- Open collaborators to external innovation best practices
- Offer routes (courses, training, coaching, etc) to intrapreneurs
- Revisit company's culture and values