In this article, we discuss the role of open innovation in collaborative design processes in
mature industries such as the shipping industry. We examine the design of high-tech offshore
service vessels in environments characterized by high volatility and complexity. We
elaborate on the role that accumulating and sharing core competences plays in speeding
up the innovation process and increasing product value. We present a longitudinal case
study of a shipping company implementing an open innovation approach that integrates
its own core competences in offshore operations with the competences of ship designers
and ship builders to develop a new design for challenging environments. In this article, we
draw on an open innovation approach and a competence-based view to demonstrate how
the firm can "reach out" to gain novel competences related to innovation, which may transform
the competitive environment to the firm’s advantage. The article would be useful to
innovation scholars and practitioners who work with innovative product development
