Open Innovation - MIT ID Innovation
                     Open Innovation 
MITID Innovation
With a discovery or invention happening 
every day, the chances of not landing on an 
already used idea are pretty unlikely. People 
make as many efforts as possible to build a 
product, service, or solution that is 
distinctive. Nonetheless, the task of 
innovation can be tough to achieve, and 
companies have to turn towards the 
employees of their entire company and 
sometimes external sources too. The term 
used for such a phenomenon is Open 
Innovation. 
What is Open Innovation
Open Innovations can be defined as a 
business practice where the organization 
sources ideas from internal sources, i.e., 
employees, friendly rival companies, 
partners, suppliers, and external 
stakeholders. These innovative ideas are 
acquired for many reasons like building a 
new product, building a new service, 
resolving a problem, etc. 
A writer introduced the concept of open 
innovation in the 2000s. He defined open 
innovations as an inflow and outflow of 
knowledge for internal innovation and 
external use of innovation. The idea 
popularized over the years, and all 
industries have adopted this practice. 
According to a survey, 91% of 
marketers manage organization-wide 
innovation as innovation is one of the most 
vital marketing strategies. 
Open Innovations can be categorized as 
per the type of human resource 
inclusion:
• Intercompany (corporate accelerator)
• Intracompany
• Experts of the Industry
• Open to Public
Examples of Open Innovation
Many companies have used open 
innovations to gain information for new 
products, market their product, and 
leverage their product with customer 
feedback. Here are some examples of 
open innovation used by multinational 
companies across the globe:
Samsung
Samsung implemented open innovation 
through intercompany programs. The 
Samsung Accelerator Program brought 
entrepreneurs, innovators, designers, and 
experts together. These individuals were 
given office spaces and resources to develop 
new and innovative ideas.
With this initiative, Samsung tried to open 
several open innovations like mergers, 
partnerships, venture capital funding. 
NASA
NASA collaborated with Harvard 
Business School, London Business 
School, and Top Coders to create a 
mathematical algorithm for medical kits 
that were to be taken in space. Around 
2833 codes were created with this 
initiative. Winners were rewarded with 
money prizes and were allowed to view 
the shuttle mission launches.
GE
GE has used open innovation in various 
initiatives. GE Open Innovations is used to 
address world problems. Open Innovation 
Manifesto connects experts and 
entrepreneurs to discuss and solve the 
required problem.
Another open innovations project of GE is 
First Build, where both internal and external 
sources come together to share ideas and 
create new home appliance products. 
Philips
Philips developed an R&D ecosystem 
back in 1998 on the theory of open 
innovation. The ecosystem is now known 
as High Tech Campus Eindhoven. Over 
200 entrepreneurs and product 
developers come together to create new 
ventures; these ventures help solve world 
problems like climate change, 
overpopulation, etc.
MIT ID Innovation-Gateway to New 
Perspectives
To understand open innovation and its 
process in detail, become a part 
of innovation courses offered by MIT ID 
Innovation. Our courses on innovation 
management and design thinking will instill 
a new skill and curiosity in you to think out 
of the box. Become an asset with your 
Innovation 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 
Innovation Courses in Pune.
We’d love to 
hear
from you.
MIT INSTITUTE OF DESIGN
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