Knowledge is abundant and it is shared among the crowd. HYVE has the capabilities to tap into it.
To thrive in the future, a business needs more than just being the first to innovate. To stay ahead of the competition in this ever-connected world, you need to be relevant: be the first to deliver what your users need, at the right time and the right place.
From closed to open innovation method
Open innovation differs from closed innovation in the process. In short, it’s “This is our lab” versus “The world is our lab”.
In the closed innovation process, consumers involvement is limited to market launch.
Open innovation involves consumers throughout the process, even after the market launch, resulting in a consumer-centric continuous improvement.
Open Innovation minimize the risk of launch failure and speed up deliver-to-market process.
Open innovation process
Open innovation process commonly consists of non-linear and continuously-improving 4 steps.
It starts by exploring innovation needs followed by mapping these findings into a concept. Next, we evaluate, test, and iterate the idea. As the final step, we develop the output and turn this concept into a ready-to-launch prototype.
Open Innovation is based on the idea that every organization needs to engage deeply and extensively with external knowledge networks and communities. Even though the practice of open innovation originated in large firms, it can also be applied to small firms, low-tech industries, even governments and social sector organizations.
And that can only be done by involving your users in your business process, by adopting Open Innovation.