InSITE2010: Abstract

Title Open Innovation in SMEs: From Closed Boundaries to Networked Paradigm

Successful innovation is a key to business growth. In the realm of technological development,

innovation processes have been transformed into various forms, like open innovation, crowdsourcing

innovation, or collaborative innovation. This research would like to focus on open innovation

processes to reach out to the common stakeholders in the entrepreneurship system through

small and medium enterprises. It has been observed that to provide innovative services or products

to the outer periphery of the customer chain, SMEs play an important role. Hence, focusing

innovation for SMEs would lead to a newer dimension of innovation research for better business

and economic growth. The research emphasizes on various open innovation strategies for SMEs

at the outset by focusing transformation of innovation processes from a closed boundary leading

to a networked paradigm, try to provide some overview on a few innovation strategies, and develop

a business model. The paper also discusses about some challenges and barriers that SMEs

are facing in implementing open innovation strategies. Before conclusion, it put forwards issues

of future research.


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