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

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

See all articles by Joel West

Joel West

KGI - Keck Graduate Institute

Marcel Bogers

Eindhoven University of Technology; University of Copenhagen; University of California, Berkeley

Multiple version iconThere are 2 versions of this paper

Date Written: September 13, 2011


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: or

Joel West (Contact Author)

KGI - Keck Graduate Institute ( email )

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


Marcel Bogers

Eindhoven University of Technology

Den Dolech 2
Eindhoven, North Brabant 5612 AZ


University of Copenhagen ( email )

Department of Food and Resource Economics (IFRO)
Rolighedsvej 23
Copenhagen, 1958

University of California, Berkeley

Garwood Center for Corporate Innovation
F402 Hass School of Business, #1930
Berkeley, CA 94720
United States

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Abstract Views
PlumX Metrics