Innovation – in the form of developing new products and services – has become as important to growth for CEOs as raising their share of existing markets. A survey by PricewaterhouseCoopers of 1200 CEOs from around the world found that innovation, along with increasing their existing business, now outstrips all other means of potential expansion, including moving into new markets, mergers and acquisitions, and joint ventures and other alliances.
The Open Innovation Strategy and Policy Group (OISPG) works in close collaboration with the European Commission. They are the driver of the Open Innovation 2.0 paradigm: to catalyse modern innovation adoption and creation of open innovation ecosystems where the serendipity process is fledged.
In the European context, open innovation is now used as a synonym for modern, highly dynamic and interactive processes. Linear and sequential mindsets are slowly changing to be more opportunistic, more daring and more action-oriented. We need to move from having 'perfect plans for yesterday' to an innovation culture which fosters experimentation and prototyping in real-world settings.
This new innovation culture leads to simultaneous technological and societal innovation and encouragement. We need to be daring and also experiment with disruptive approaches as gradual improvement does not properly reflect the potential that the omnipresent, fast-developing ICT provides for parallel innovations.