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Open Innovation with L Marks: collaborate and cocreate

What is Open Innovation?

Open Innovation makes use of external ideas and technology to complement internal innovation strategies and processes. Open Innovation matches corporate problems and pain points to market leading companies with a solution. They then work together to deploy or cocreate a bespoke solution. 

 

Advantages of Open Innovation

Open Innovation programmes allow corporations to harness the most innovative ideas and tailor them for their businesses. Scouting our global open innovation network gives you a view of the most innovative companies providing solutions that meet your strategic priorities. You can choose to work with early stage companies developing game changing technologies or established providers delivering proven outcomes. The Open Innovation model allows you to prove potential solutions in your environment and adapt them to your requirements. Open Innovation reduces the resource burden giving you access to subject matter experts and 

 

Why use Open Innovation?

Some companies’ motivation for implementing open innovation can be attributed to the old saying, “if you can’t beat them, join them”, or in many cases, have them join you. Even the biggest industry whales have to constantly be on the lookout for potential disruptors, but they must also have enough sense to acquire these disruptive innovators instead of competing with them. Making room for innovation within a company also empowers businesses to experiment with new ideas and technologies in a structured environment, enabling them to identify and capitalise on new opportunities. This form of contained experimentation is essential for businesses that want to stay competitive and succeed in today’s marketplace.

 

How can I get involved?

L Marks have run over 85 programmes with its partners in Europe, Asia and North America. Our Open Innovation programmes, the Innovation Lab and Fusion deliver proven value for our corporate clients. We partner our corporate partners with innovative startups, scaleup and established experts from our global open innovation network, scouted against your strategic priorities. They then work collaboratively with your organisation to develop or deploy innovation within your business, facilitated by our experienced innovation programme managers and experts. Learn more about which programme is right for you.

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