Innovation Facilitation. How can Companies Discover their Innovation Potential?

Focusing on open innovation as introduced by Henry Chesbrough, this paper explores its role in enhancing internal innovation while expanding external markets. It contrasts open innovation with traditional closed models, particularly noting its growing adoption among SMEs and startups. The paper categorizes open innovation into inside-out and outside-in processes, emphasizing the benefits of the latter, which include access to external expertise, alignment with customer needs, and cost-effective crowdsourcing for ideas and solutions. It positions open innovation as a strategic advantage for resource-limited organizations.