A report by Accenture noted that one beacon that has drawn large companies and entrepreneurs together is “open innovation,” a concept introduced more than a decade ago that has since become a catchphrase for a broader and deeper form of collaboration. Yet they contend in this report that large companies and entrepreneurs believe collaboration and open innovation are, as yet, under-delivering on their promise. One reason for this shortfall is the fact that open innovation is a journey of multiple phases. Too often, large companies remain stuck in the early phases—those that primarily involve corporate ventures and incubators or accelerators. Too seldom do large companies collaborate in a spirit of joint innovation.
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