Co-Creation in Open Innovation

Co-creation in open innovation involves collaboration between organizations and external contributors, such as customers, experts, and communities, to develop new products, services, or ideas. Instead of working alone, companies invite diverse perspectives and insights, harnessing collective knowledge to create better solutions. This process fosters creativity, enhances problem-solving, and ultimately leads to innovations that are more closely aligned with market needs. By working together, all parties can share resources and expertise, resulting in outcomes that benefit both the organization and its collaborators.