Bridging innovation and commercialization to create value: An open innovation study
•ITRI has achieved end-to-end open innovation resulting in many successes of commercialization.•The four-platform open innovation system is a usable framework to bridge innovation and commercialization.•Key success factors are a neutral internal coordinating organization and an external advisory boa...
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| Published in: | Journal of business research Vol. 123; pp. 255 - 266 |
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| Main Authors: | , , |
| Format: | Journal Article |
| Language: | English |
| Published: |
Elsevier Inc
01.02.2021
Elsevier B.V |
| Subjects: | |
| ISSN: | 0148-2963, 1873-7978 |
| Online Access: | Get full text |
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| Abstract | •ITRI has achieved end-to-end open innovation resulting in many successes of commercialization.•The four-platform open innovation system is a usable framework to bridge innovation and commercialization.•Key success factors are a neutral internal coordinating organization and an external advisory board of investors.
The paper demonstrates how ITRI (the Industrial Technology Research Institute), an internationally prominent non-profit R&D organization, designs a platform-based open innovation system to capitalize on its efforts toward creating economic and social value. We illustrate a holistic framework spanning idea generation to commercialization, and present successful ITRI cases. Detailed actionable descriptions of activities in each innovation stage illustrate the operational implementation of the end-to-end open innovation system. We find distinctive success factors: (1) Managers examine their open innovation strategies and activities by viewing the open innovation process from a system perspective. (2) Outside and inside advisors with investment backgrounds help commercialization planning. (3) A neutral catalyst organization within ITRI is a critical player, maintaining the smooth flow of the end-to-end process. Our findings provide important implications for research and management in open innovation as well as for the systematic commercialization of innovation. |
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| AbstractList | •ITRI has achieved end-to-end open innovation resulting in many successes of commercialization.•The four-platform open innovation system is a usable framework to bridge innovation and commercialization.•Key success factors are a neutral internal coordinating organization and an external advisory board of investors.
The paper demonstrates how ITRI (the Industrial Technology Research Institute), an internationally prominent non-profit R&D organization, designs a platform-based open innovation system to capitalize on its efforts toward creating economic and social value. We illustrate a holistic framework spanning idea generation to commercialization, and present successful ITRI cases. Detailed actionable descriptions of activities in each innovation stage illustrate the operational implementation of the end-to-end open innovation system. We find distinctive success factors: (1) Managers examine their open innovation strategies and activities by viewing the open innovation process from a system perspective. (2) Outside and inside advisors with investment backgrounds help commercialization planning. (3) A neutral catalyst organization within ITRI is a critical player, maintaining the smooth flow of the end-to-end process. Our findings provide important implications for research and management in open innovation as well as for the systematic commercialization of innovation. |
| Audience | Trade Academic |
| Author | Wang, Yun-chu Yang, Chyan Phillips, Fred |
| Author_xml | – sequence: 1 givenname: Yun-chu surname: Wang fullname: Wang, Yun-chu email: delphinewang@gmail.com organization: Industrial Technology Research Institute, Chutung, Hsinchu 310401, Taiwan – sequence: 2 givenname: Fred surname: Phillips fullname: Phillips, Fred organization: University of New Mexico, Albuquerque, NM 87131, United States – sequence: 3 givenname: Chyan surname: Yang fullname: Yang, Chyan organization: Institute of Business and Management, National Chiao Tung University, Taipei 100003, Taiwan |
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