Open Innovation Lessons from an Old-Time Enterprise: Philips

Philips, one of the biggest old-line companies in Europe, has struggled to become more customer-centric. Recently, its adoption of open innovation strategies has injected new zest into the giant consumer products company. In this article, Haydn Shaughnessy interviews Katja Van Der Wal and Alberto Prado who, respectively, head up consumer lifestyle innovation and high impact innovation, about the company’s recent successes.

One of Philips’ more interesting moves was to turn its own industrial base in Eindhoven into a technology park. The company has managed to attract in a lot of start-ups that have a relationship with Philips or are a co-investment. Another example is the challenges of moving from an engineering-driven culture, where employees are valued for their originality and “not invented here” is frowned upon, to a more collaborative approach that is being modeled on the software industry.

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