Open Innovation Examples - MIT ID Innovation
                     Open Innovation 
Examples – What Can 
We Learn From Them?
MITID Innovation
Both large and small companies in the 
present times agree that creativity and 
innovation are indispensable to maintain 
business progress and increase market 
competitiveness. Nevertheless, the 
conventional closed innovation model 
encountered obstacles and lacked new 
idea creation amongst the in-house 
business team.
It was why the concept of open 
innovation came into existence. Open 
innovation examples strive to enhance 
the business capability to innovate 
brand-new ideas for products and 
solutions through the external ideas 
given by customers and partners to 
accomplish market success.
Also, the ideas accumulated and 
assessed during the analysis stage can 
assist the teams in overcoming the 
innovation uncertainty, expenses, time 
and commitment as the ideas come right 
from the external contributors.
Open Innovation Examples
Here are some of the Open Innovation 
Examples. Have a look to know in detail.
Coca-Cola
Coca-Cola has been one of the leading 
businesses in the realm of innovation right 
from the time Raymond Loewy devised the 
Coca-Cola fountain dispenser in 1960. 
Presently, the corporation embraces open 
innovation principles between the company 
and other administrators on different levels.
LEGo
During the 1990s, LEGO endured difficult 
times because of drastic reductions in sales 
and consequent earnings. After this period, 
strategic determinations and innovations led 
the company to a more innovative path than 
before.
The unique LEGO strategy strived to 
concentrate on the customer by combining 
industry and creativity. 
Samsung
Samsung is another example of 
companies that embrace open innovation 
to create their external innovation forces 
through the Samsung Accelerator 
program. This drive strives to build 
cooperation between innovators, 
designers, and intellectuals to implement 
diverse solutions.
Facebook
Facebook adopts an impressive internal 
open innovation model. At Facebook, the 
team conducts hackathons for their 
employees. The purpose of these 
hackathons is that the employees 
develop innovative approaches and 
discoveries and create initial versions of 
them. These hackathons are not solely 
for developers but every employee within 
the company.
Become An Open Innovation 
Expert at MIT ID Innovation
MIT ID Innovation is India's most renowned 
educational institute for innovation courses. 
Also, the principal aim of our mentors at 
MIT ID Innovation is to create and foster 
intellectual innovators with their unique 
pedagogy skills and comprehensive 
learning materials. So what are you waiting 
for? Enroll yourself at MIT ID Innovation.
Conclusion
MIT ID Innovation Programme curates 
knowledge and experiences that 
challenge the very paradigm of evolution. 
And that's why we have set out to define 
the future of industries, communities, 
cities and ecosystems. MIT ID Innovation 
offers the best Courses in Innovation. 
We’d love to 
hear
from you.
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