OPEN INNOVATION recognises that RD is expensive. In some industries, it can be prohibitively expensive for smaller firms. The idea of open innovation is that other organisations can do the RD – at their risk – and you can pick and choose what parts of it you want as you are ready. Universities are particularly well set up to do RD and not good at manufacturing and selling, so in theory open innovation is a win-win partnership.
In 2011, University of Ulster launched its open innovation platform “Open Ulster” which aims to provide open access to its intellectual property. The university has been licensing the fruits of its RD for many years, but in the last few years had been looking at ways to make the engagement between business and its RD products as simple and transparent as possible.
To read the full, original article click on this link: Finding partners at the tea dance of open innovation - The Irish Times - Mon, Aug 20, 2012
