Open Innovation: an Interview with Henry Chesbrough
Henry Chesbrough, known worldwide for his pioneering work on open innovation, recently conducted an interview with the Flemish magazine SERV. In this discussion, he addresses some of the challenges of implementing it, especially for small to medium sized companies. One of the biggest hurdles is for SMEs to deeply understand customer needs, so they can develop a business model that will solve them. The need for data collection goes well beyond having a CRM database. Another challenge is that entrepreneurs are often unwilling to share information with academic research centers, while the research centers tend to be too focused on their own research, rather than on the needs of SMEs in the industry sectors they serve.