Open Innovation – SVP as part of your innovation network

In the traditional understanding, innovation management meant that innovations are developed exclusively internally within an organization. However, the innovation process has long since ceased to be just an internal process. Today, the Open Innovation approach breaks with this classical understanding. Open innovation means opening up innovation processes in order to allow ideas, new technologies or feedback from external partners to flow into the company.

It enables the comprehensive networking of knowledge and know-how from different industries and areas and opens up new perspectives. Solutions that are already being used successfully in other areas can be transferred to your own innovation projects. Accessing expertise beyond organizational boundaries allows new knowledge and additional skills to be developed within one’s own company. Moreover, the approach offers the potential to speed up development, as the expertise is already available and does not need to be built first. New technology markets can also be identified more quickly, and the competence of a learning organization is strengthened. The organization becomes more adaptable and resilient.

It is important to understand that open innovation does not mean outsourcing innovation management, but rather expanding the internal view with external expertise.

Open Innovation – SVP as part of your innovation network

SVP supports you as an external partner

As a basis for a technology screening, SVP analyses global news, patents, scientific literature, start-up databases or social media. We also investigate competitors or identify potential targets for a technology acquisition or cooperation. In addition to a secondary analysis, we conduct expert interviews.

SVP pursues a hybrid approach. On the one hand we leverage automation tools in which some of the relevant sources can be integrated and automatically analysed. This increases the efficiency of data collection. On the other hand, we use the expertise of our market intelligence experts to supplement the results with insights from specialized fee-based databases and publications that round off the entire spectrum of the innovation scouting landscape.

Your solution for Open Innovation – tailored to your target markets

Finally, in close cooperation with our customers, we jointly evaluate the potential of the ideas developed and, as an external partner provide you with an external perspective.

Have we piqued your interest? Feel free to contact us and we will clarify to what extent SVP can support you in your innovation management.

Yvonne Jacoby, Market Intelligence Senior Expert