Awareness of Open Innovation and Innovation Contests among Young Millenials in Austria - Results of a Representative Study in Q1/2020

Results of a Representative Study in Q1/2020; DE│RE│SA – Design Research Salzburg, Center for Co-Creation, Salzburg University of Applied Sciences, Austria.

4 Pages Posted: 29 Jun 2020

See all articles by Dominik Walcher

Dominik Walcher

Salzburg University of Applied Sciences - Faculty of Design and Product Management

Markus Petruch

Salzburg University of Applied Sciences - Faculty of Wood Technology and Management

Date Written: June 1, 2020

Abstract

While Open Innovation (OI) becomes an increasingly valuable method for companies to not only foster innovation, but also enhance customer engagement, the awareness of it among the younger general public has not been assessed. In Q1/2020 a representative study to investigate the awareness of Open Innovation (OI) and Innovation Contests (IC) among young millennials (between 20-29 years of age) was conducted in Austria. It was found that ICs are more well-known than the superordinate concept of OI, at which gender specific differences could be found. Men have participated in more OI campaigns and report a higher familiarity with ICs. Overall, there is above-average agreement that ICs are a contemporary method to create successful innovations. Although participants tend to disclaim the unfairness of ICs, the disagreement is not substantial, which indicates that possible underlying doubts surrounding the fairness of the method might exist in the public opinion.

Keywords: Open Innovation, Innovation Contest, Awareness, Millenials, Austria; Business Administration and Business Economics; Marketing; Accounting; Personnel Economics

JEL Classification: M

Suggested Citation

Walcher, Dominik and Petruch, Markus, Awareness of Open Innovation and Innovation Contests among Young Millenials in Austria - Results of a Representative Study in Q1/2020 (June 1, 2020). Results of a Representative Study in Q1/2020; DE│RE│SA – Design Research Salzburg, Center for Co-Creation, Salzburg University of Applied Sciences, Austria., Available at SSRN: https://ssrn.com/abstract=3619879 or http://dx.doi.org/10.2139/ssrn.3619879

Dominik Walcher (Contact Author)

Salzburg University of Applied Sciences - Faculty of Design and Product Management ( email )

Markt 136
Salzburg-Kuchl, 5431
Austria

Markus Petruch

Salzburg University of Applied Sciences - Faculty of Wood Technology and Management ( email )

Markt 136
Salzburg-Kuchl, 5431
Austria

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