Open Innovation Summit Series: Pre-Summit

5 Assumptions I have leading into OIS 2015

This week I am heading to Boston for IE’s Open Innovation Summit, thanks to a scholarship/sponsorship from the Michigan State University’s College of Law. Open Innovation is the process of asking beyond your team, company, or suppliers for R&D opportunities. Companies have recently adopted this approach more and more as it accelerates the development of groundbreaking products and allows companies to be faster innovators. The Summit is a two-day speaker driver conference, with mangers from major companies presenting on their OI Strategies.

I plan on live-blogging my experience throughout the week, so I thought I’d kick-off Monday with my assumptions about Open Innovation and the Summit. This way we can revisit these assumptions at the end of the week on Friday and see how my predictions stack up. Here are my five predictions.

  1. Although Open Innovation is not that well known of a term to the average person, I bet these speakers have been using OI for a while a now.
  2. None of the speakers will claim that Open Innovation has, nor will it ever, wholly replaced their company’s internal R&D initiatives.
  3. Open Innovation has been neither a super-cheap nor super-expensive investment compared to alternative innovation strategies.
  4. Open Innovation is not used solely for new product development.
  5. (I really hope this one is true) We will hear success stories of Open Innovation activities that are not the standard “Open Innovation Competition model.”

If you have any questions or suggestions to the list above, please write a comment below and I’ll add my favorites to the list for the review on Friday. Be sure to check-in here, or on Twitter Jules Strachman, on Tuesday and Wednesday this week to receive updates from the Summit.

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