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Open Innovation Ecosystem in Asia

In: Business and Management in Asia: Digital Innovation and Sustainability

Author

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  • Tobias Endress

    (Asian Institute of Technology (AIT), School of Management)

Abstract

Open innovation can be a mighty instrument for improving an organization’s innovation capabilities. It has the potential to support companies in excelling in their business domain through innovation. Still, it is not an approach that is always easy to adopt or integrate into existing processes. Making the best use of open innovation requires specific skills to manage technology, knowledge and IP. A good balance of internal and external knowledge appears to be a crucial success factor. It is an important management task to balance internal and external knowledge to increase the innovation potential and, ultimately, the ability of an organization to be profitable and thrive in the market. The open innovation ecosystem in Asia is very diverse. It seems that the momentum for open innovation is increasing in the region, but there is still a lot of potential for improving its utilization; in particular, emerging economies might benefit from the Open Innovation approach. In this chapter, several aspects of open innovation are discussed, potential pitfalls are illustrated, and possible remedies and best practices are introduced.

Suggested Citation

  • Tobias Endress, 2023. "Open Innovation Ecosystem in Asia," Springer Books, in: Tobias Endress & Yuosre F. Badir (ed.), Business and Management in Asia: Digital Innovation and Sustainability, pages 35-48, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-6418-3_3
    DOI: 10.1007/978-981-19-6418-3_3
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