Bridging innovation and commercialization to create value: An open innovation study

The paper demonstrates how ITRI (the Industrial Technology Research Institute), an internationally prominent non-profit R&D organization, designs a platform-based open innovation system to capitalize on its efforts toward creating economic and social value. We illustrate a holistic framework spanning idea generation to commercialization, and present successful ITRI cases. Detailed actionable descriptions of activities in each innovation stage illustrate the operational implementation of the end-to-end open innovation system. We find distinctive success factors: (1) Managers examine their open innovation strategies and activities by viewing the open innovation process from a system perspective. (2) Outside and inside advisors with investment backgrounds help commercialization planning. (3) A neutral catalyst organization within ITRI is a critical player, maintaining the smooth flow of the end-to-end process. Our findings provide important implications for research and management in open innovation as well as for the systematic commercialization of innovation.

Automated summary

This paper demonstrates how ITRI designs a platform-based open innovation system to create economic and social value. The study finds that managers need to view open innovation process systemically, investment advisors are crucial for commercialization planning, and a neutral catalyst organization within ITRI is essential for maintaining a smooth flow throughout the innovation process.