Profiting from External Innovation: A Review of Research on Open Innovation

47 Pages Posted: 26 Oct 2011 Last revised: 30 Apr 2013

Joel West

KGI - Keck Graduate Institute

Marcel Bogers

University of Copenhagen - Department of Food and Resource Economics (IFRO)

Multiple version iconThere are 2 versions of this paper

Date Written: September 13, 2011

Abstract

In 2003, Chesbrough coined the term “open innovation” as a new paradigm for industrial innovation. In this paper, we review and synthesize the growing literature that follows Chesbrough by studying the commercialization of external innovations — one of the key open innovation practices.

This paper provides a comprehensive overview and process model of open innovation. We classify prior studies in open innovation according to a four-phase process model for inbound open innovation that includes obtaining, integrating and commercializing external innovation, as well as work on nonreciprocal innovation flows. Finally we identify three opportunities for future research, including greater focus on business models, examination of the later and reciprocal phases of the commercialization process, and research into the limits and moderators of open innovation.

Keywords: open innovation

JEL Classification: O31, O32, L22

Suggested Citation

West, Joel and Bogers, Marcel, Profiting from External Innovation: A Review of Research on Open Innovation (September 13, 2011). Available at SSRN: https://ssrn.com/abstract=1949520 or http://dx.doi.org/10.2139/ssrn.1949520

Joel West (Contact Author)

KGI - Keck Graduate Institute ( email )

535 Watson Drive
Claremont, CA 91711
United States
909-293-8550 (Phone)

HOME PAGE: http://www.joelwest.org/KGI

Marcel Bogers

University of Copenhagen - Department of Food and Resource Economics (IFRO) ( email )

Unit for Innovation, Entrepreneurship & Management
Rolighedsvej 25
Copenhagen, 1958
Denmark

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