Episode 34: What Is Open Innovation?

Please follow and like us:

Eloise Young earned her PhD in Organic Chemistry from MIT and today leads innovation programs on behalf of one of the world’s leading firms in the area of Open Innovation, NineSigma. Open Innovation, also known as external or networked innovation, is focused on uncovering new ideas, reducing risk, increasing speed and leveraging scarce resources. With a better understanding of “what is out there”, a company is able to lower risk by combining external capabilities with internal innovation resources.