What is open innovation
“Open innovation is the use of purposive inflows and outflows of knowledge to accelarate internal innovation, and expand the markets for external use of innovation, respectively. [This paradigm] assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as they look to advance their technology.”
Henry Chesbrough, Open Innovation: Researching a New Paradigm (2006)