ASTN Open Innovation Masterclass
Open Innovation Results
Going Beyond the Hype and Getting Down to Business
Linking startups and large corporations seems to offer the best of both worlds: Combining ideas and an innovative problem-solution approach with an abundance of resources and access to markets and customers. In a world where most of the knowledge exists outside the walls of any given firm, ‘bringing in’ ideas promises gaining access to the potential ‘next big thing’ for corporates. Conversely, many startups fail due to a lack of paying customers and therefore could benefit from the existing channels of the large corporate. However, more often startups are wary of the big corporate ‘stealing’ their idea and IP, whereas corporate processes, like brand protection, budget considerations and sales execution of core business can kill the ‘new’ quickly.
Henry Chesbrough is Faculty Director of the Garwood Center for Corporate Innovation within the Institute of Business Innovation at the Haas School of Business at UC Berkeley. His research focuses on managing technology and innovation. He is known as “the father of open innovation”, due to his book, Open Innovation (Harvard Business School Press, 2003). This book was named a “Best Business Book” by Strategy & Business magazine, and the best book on innovation on NPR’s All Things Considered. Scientific American magazine named him one of the top 50 technology and business leaders in recognition of his research on industrial innovation. Prior to embarking on an academic career, he spent ten years in various product planning and strategic marketing positions in Silicon Valley companies. He worked for seven of those years at Quantum Corporation, a leading hard disk drive manufacturer and a Fortune 500 company. Previously, he worked at Bain and Company.