Innovation Outsourcing

Innovation outsourcing, within the framework of Open Innovation Management, refers to the practice of companies collaborating with external partners—such as startups, researchers, or other organizations—to develop new ideas and technologies. Instead of relying solely on internal resources, businesses tap into diverse expertise and perspectives from outside their walls. This approach encourages creativity, accelerates product development, and reduces costs by leveraging external knowledge and skills, ultimately fostering a more dynamic and innovative environment. In essence, it opens the door to a broader pool of talent to drive innovation forward.