Last week, Michael Arndt from the Next Innovation Tools & Trends blog on BusinessWeek.com, posted an article asking “Is Open Innovation Over?” The crux of the post is an interview with James Todhunter, CTO of Invention Machine, who says “Open Innovation” is “becoming yesterday’s idea”. Todhunter’s argument was that companies’ internal knowledge-base would dwindle if they relied too much on external ideas and expertise, and run the risk of losing control of their IP rights and thus their competitive edge.
I mention this post because it elicited a bee’s-hive of comments criticizing Todhunter’s views, especially as they (the commenter’s) felt he hadn’t produced any viable examples to demonstrate his opinion. The commenter’s were rather passionate in their views and didn’t hesitate in listing why they felt Open Innovation, as one noted, “will become a natural component of companies' innovation strategies.” Of note, and personal pride I might add, is an InnoCentive Solver, Chris DeArmitt, who chimes in his defense of Open Innovation in the comments, opening his statement with “As an innovator and two-time Innocentive challenge winner….”
Read the Next Innovation Tools & Trends blog post, http://bit.ly/5i0y22, and let both Michael Arndt and us know your opinion.