The open innovation process in a small early stage knowledge based firm: The essential business model?

Abstract

Open innovation and how it influences firms has never before received so much focus from academics, policy makers and practitioners. However there is a distinct lack of research into this process in small firms and as such this research develops insight into open innovation use and development in a small early stage firm. Data was gained from the results of one case study. 12 in-depth semi-structured interviews were conducted, with 6 different participants, as well as analysis of company documentation and participant observation. The result being in-depth insight into the process of open innovation development and its effect on firm growth. The research finds that open innovation was crucial in enabling the development of this firm and is ultimately a business model that no organisation, no matter their size, should be without