Rise of Open Innovation Among Asia Pacific Companies
Awareness and adoption of open innovation are on the rise, driven by success stories and the economic climate. This has been known anecdotally for some time, but it’s also being backed up by powerful research.
One of the most significant studies was the Frost & Sullivan report titled ‘Open Innovation 2012’ that revealed that Asia-Pacific companies are way out in front when it comes to dedicating staff to open innovation.
The report focused on the role of OI in ideation, product development, and R&D at companies across the world. It reported that 72% of companies surveyed in the APAC region have a dedicated OI team with an average of ten members per team. The global baseline is for 56% of companies to have a dedicated OI team with an average of three members.
Clearly, open innovation has gone beyond the fad phase. The number of companies engaging with it is testament to this. However, OI adoption is not without challenges, a fact that the report highlights.
Challenges
The Asia-Pacific companies questioned by researchers cite getting management buy-in, creating an effective collaboration framework, and overcoming the fear of lost IP as the key challenges.
Despite these, many report adopting OI in the later stages of product testing – for concept testing and product launch.
Open Innovation Engagement
Some of the other figures to come out of the survey show the percentage of companies engaging with OI across each product development stage:
Idea generation – Americas 38%/Asia Pacific 33%
Idea screening – Americas 25%/Europe 25%
Concept testing – Asia Pacific 30%/Americas 24%
Product launch – Asia Pacific 11%/ Europe 8%
To view a slideshare of the report click here.
Add your Comment
[LOGIN FIRST] if you're already a member.fields are required.