The new centre is called the Open Innovation centre Advanced Materials (OICAM) and is located at Nijverdal, the Netherlands. This new innovation centre is a network of companies and knowledge institutions (such as the University of Twente and Saxion University) inside and outside the province of Overijssel that focuses on sharing knowledge, research and development concerning high-grade materials and materials technology.
The end goal for the business community and knowledge institutions is to quickly realise new product-market-technology combinations. OICAM will close the gaps between the idea, product and production, serving multiple entities from the region.
Open Innovation’s benefits
The press release refers to one of the benefits which Open Innovation has with regard to the product but also the ecosystem of organisations in the region:
Through the availability of pilot facilities and equipment for trial productions, the independent foundation OICAM wishes to quickly and efficiently actualize new materials and spin-offs. In this way not only will innovative products be realised, but above all new (international) markets will be served at company level. At the same time cross-fertilization can take place, since within OICAM several related projects will be in progress alongside one another. New ideas lead to new materials, products and subsequently to new company activities.
OICAM serves as a platform to achieve a better output-to-market, faster time-to-market and lower cost-to-market of their product-market-technology combinations.
The region in its whole will benefit because by bringing together and reinforcing “the regional innovative power of both Overijssel companies and knowledge institutions will benefit the Overijssel business community and can generate growth in employment.”
This does remind me of Google’s view on open systems equation where involved companies who act as enabler are benefiting from the growing market in a more-than-average % (depending on certain factors).
Social Media as conductor
There is a growing need for effective cooperation to accelerate the sharing of knowledge, know-how and insights and realise new products, in order to give impetus to new business activities. At the same time open innovation helps to connect links in the same value chain or indeed in different value chains.
The growing need as mentioned in the quote can be achieved, supported or further boosted by social technologies, be it internally or between the organisations.
The attention for Open innovation and Open Business in general is increasing the last couple of years, both in the academic world as in the commercial one. On a macro level this impacts the ecosystem as well. For example, this year’s conference of the Technopolicy Network will therefore be on Open Innovation for Regional Development to explore how this shift will impact a region and what organisations can do to profit from this change.
What’s your opinion on the effect of the economics of Open Innovation?
To learn about and contribute to the understanding of Open Innovation and Open Business, follow #openbusiness on Twitter.