Collaborative innovation network

Collaborative innovation is a process in which multiple players (within and outside an organization) contribute towards creating and developing new products, services, policies, processes, or business solutions. It might include the involvement of customers, suppliers and multiple stakeholders such as agencies and consultants Collaborative innovation is a process in which multiple players (within and outside an organization) contribute towards creating and developing new products, services, policies, processes, or business solutions. It might include the involvement of customers, suppliers and multiple stakeholders such as agencies and consultants Usually, firms that promote open forms of collaboration benefit from having access to different capabilities and knowledge, enhancing their competitiveness and accelerating their innovation process. On one hand, it enables small companies such as start-ups to partner with other players, complementing each other and taking advantage of different perspectives and resources. On the other hand, it helps large companies to speed-up their innovation process and time-to-market, overcoming bureaucracy and inflexible procedures.