What does 'open innovation' mean for the Cambridge high tech cluster?
The IfM's Dr Tim Minshall talks about the realtionship between open innovation and Cambridge, the nature of partnerships. In this interview he examines the nature of OI, the role of serendipity and the role OI plays in getting ideas out of the door.
'Open innovation' describes the ways in which companies can create value through innovating in partnership with other organisations. The topic is attracting high levels of interest from policymakers, consultants, multinational corporations and academics. It is being hailed as the 'new way' to improve companies' abilities to innovate, accelerate regional economic recovery, attract investment and link with the science base. But is it really anything new? Is there any evidence that it really works? What does it mean for start-ups, medium-sized firms and multinationals in and around Cambridge? This talk will cover the background, current practice, and implications for future of the Cambridge high tech cluster of the emerging (or perhaps very old) phenomenon of 'open innovation'.