Recent Innovation in the Energy Sector: Solar & Wind

Posted by Joshua Gordon on Nov 21, 2017 10:30:49 AM

The environmental impact of fossil fuels is causing the energy sector to focus on cleaner alternatives. Political agreements to curb fossil fuel emissions, such as The Paris Climate Accord - ratified by 168 nations, sets out ambitious plans to tackle the threat of climate change and shift towards a low carbon future.

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Topics: Innovation Insights

Why Open Innovation Makes Sense

Posted by Adi Gaskell on Nov 14, 2017 6:16:04 AM

Innovation is something that most organizations want to master so that they can survive in our increasingly ‘VUCA’ world. Innovating well is increasingly challenging however. A recent study from the Stanford Institute for Economic Policy Research highlighted the difficulties organizations face in the modern world.

The study examined the productivity of research and development, on both a national as well as industrial scale, and found that organizations need to spend significantly more, both in terms of human and financial resources, to achieve the same kind of results as were achieved in the past.

Despite both research expenditure and the number of researchers deployed in R&D going up significantly, the out is not rising in unison. Indeed, the authors reveal that roughly 20 times as many people are employed in R&D as was the case in 1930.

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Topics: Innovation Insights

The Living Labs Driving Open Innovation in the Public Sector

Posted by Jo Edwards on Nov 7, 2017 7:13:12 AM

Open innovation is becoming well established as an important business model. But can it be used in public services, creating opportunities for citizens to participate in generating solutions for their communities? We think it has a lot of promise – and we’re not alone. Communities around the world are gathering together to solve a wide range of challenges – health, transport, access to technology, energy, food, and more. To demonstrate the positive impact this approach can have, we explore three initiatives based on the concept of ‘Living Labs’ – “user-centred, open innovation ecosystems based on a systematic user co-creation approach integrating research and innovation processes".

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Topics: Innovation Insights

The Need for Open Innovation in the Automotive Industry

Posted by Vittorio Bollo on Nov 1, 2017 11:50:04 AM

Acclaimed Czech author Milan Kundera once commented that, “Business has only two functions - marketing and innovation.” Whilst it may seem a brutally simplistic view, it’s a fair comment when one strips most businesses to their bare fundamentals, i.e. to develop and maintain a sustainable competitive advantage and to sell their product to as many of their target market as possible. To achieve this in the automotive industry, a commitment to innovation is essential.

Automotive Original Equipment Manufacturers (OEM) have historically invested heavily in building internal R&D capabilities. This has worked until the point where effective innovation has become too complex and expensive for companies to achieve wholly from within (Ili et al, 2010). Price erosion and shorter product life-cycles only make the impetus for innovation more aggressive and, thus, demand that innovation be as dynamic as possible. Adopting open innovation is a potential solution.

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Topics: Innovation Insights

Competitive Advantage Through Open Innovation: Insights from Absorptive Capacity Theory

Posted by Jo Edwards on Oct 10, 2017 9:24:06 AM

In these fast-changing times, the established models of innovation are being challenged. Rather than innovation from within – what’s been called an ‘invent-it-ourselves model’[1] – organizations who want to stay ahead are now looking to adopt different approaches. This article looks at how one such model – open innovation – can contribute to competitive advantage by following three vital steps.

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Topics: Innovation Insights

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