In-house solutions are being replaced by partnerships

Innovation strategy at large companies is changing from an internal research and development based approach toan external-oriented, open innovation model.

This transformation requires organisations to employ a variety of innovation mechanisms, such as in-licensing, co-development, strategic alliances, joint ventures (JVs) and corporate venture capital.

This article describes the different types of innovation partnerships and their applicability in various business situations. The typical use of different innovation mechanisms can be plotted on a grid that illustrates the depth of…

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