INSPIRE action launched to support Open Innovation

Open Innovation is a business concept developed by Henry Chesbrough  (American organizational theorist) which encourages companies to acquire outside sources of innovation to order to improve product lines and shorten the time required to bring products to market, and to market or release internally developed innovation which does not fit the company’s business model but could be effectively used elsewhere.

INSPIRE is a Coordination and Support Action funded by the European Commission under the Horizon 2020 work programme, aiming to understand and support open innovation management in Europe’s SMEs.

INSPIRE seeks to pool knowledge, expertise and interest around Open Innovation in SMEs, with a view to providing its target audience (in particular SMEs) with inspirational good practice cases, tools and methodologies to implement effective processes to use external knowledge and strategic collaborations in order to innovate.

INSPIRE addresses the full cycle of managing open innovation in SMEs from the analysis of its strategic challenges and the strategic scoping of business opportunities to concept development and its competitive analysis to commercialisation and follow-up work.

SMEs are full of inspired ideas and creative approaches. However the shortage of resources often gets in the way, preventing them from capitalising on their creativity. The obvious way to address this challenge is the exploitation of external resources and the efficient deployment of partnerships; a critical condition for this is the successful management of these processes by aligning their decisions and their actions to the strategic priorities of the SME.

INSPIRE is set to understand and support the management of Open Innovation in SMEs. To fulfill this knowledge and practice gap, INSPIRE studies a critical mass of SME Open Innovation good practice cases and translates the findings into an Integrated Toolbox, a portal with resources appropriate for SMEs, their support agencies and other innovation practitioners in Europe.

The findings of INSPIRE are to be disseminated extensively to a wide audience (industry, policy, academia and civil society) to raise awareness and drive the formation of a living community which can share knowledge, experience and opportunities to promote better OI processes in SMEs.

MSC R&D understand the benefits of Open Innovation and can support tech businesses throughout the process.