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A Call For Open Innovation

  • Forbes Technology Council contributor says partnership models established during COVID-19 pandemic should continue in future
  • Benefits include better market research, more business opportunities, and lower R&D costs
  • Tips on how to engage in open innovation

Many companies have responded to COVID-19 by establishing partnerships to address the challenges the pandemic has imposed on their business. A contributor to Forbes’ Technology Council, an “invitation-only community for world-class CIOs, CTOs and technology executives,” says this type of open innovation model should endure once the pandemic passes.

Nacho De Marco, co-founder and CEO of the technology solutions company BairesDev, says companies that adopt open innovation cooperate with partners outside their own company to pool resources and pursue common goals. He says this approach offers benefits such as lower research and development costs, better market research, and more business opportunities.

De Marco says companies may be wary of open innovation due to risks associated with sharing research. He offers a number of tips on how companies can best adopt the approach.

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