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If you are not open, you are closed. It is with these words that professor Marko Torkkeli opened his speech on Open Innovation at a two day summit on Innovation in Financial services in Luxembourg. As a professor of Technology and Business Innovations at the Lappeenranta University of Technology (Finland), he enumerates a bunch of good reasons to invest in open innovation, such as gaining access to additional competencies, new markets and cost reductions.
In the view of Professor Torkkeli, open innovation means that companies, countries, individuals and teams would make much greater use of external ideas and technologies within their own business, while letting their unused ideas be used by the other companies. This requires each company to open up...
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