Open Innovation: why, with whom, how?

The digital transformation and the arrival of start-ups are shaking up business models that have been established for years and the complexity of new consumer needs is forcing large companies (mid-cap companies and large groups) to rethink all or part of them. To meet this objective, open innovation must be essential, it is also necessary to know which levers to operate and in what order.

Open innovation requires a company to adapt its own culture, its relationship with its customers and its technologies. All of its businesses and functions are also affected.

Successful open-innovation begins with taking into account the imperatives of the digital transformation, which aims to connect the company to new opportunities offered by service providers, especially start-ups.

But first of all, a large company should not forget that its growth consists in keeping its historical customers while seeking new ones, and this requires its ability to benefit from marketing and communication adapted to the upheavals. brought about by the digital revolution. This is where the Marcom (Marketing and Communication) takes on its importance.

Before considering any open-innovation, a large company must confront the universe of innovative companies which is very complex, diverse and not always explicit. It is about ensuring that it benefits from quality sourcing that is regularly updated and segmented in line with its needs and objectives. These most often consist in promoting creativity and agility, integrating digital culture and innovative trends, generating economic performance, innovating with enlarged ecosystems, rethinking the heart of marketing / communication actions.

Any collaboration between a large company and start-ups must respond to strategic reasons with indicators of choice of start-ups and specific “pilot / poc” evaluation criteria. It is the large group, once its strategic line has been decided, that must beat the measure and not the start-ups.

A virtuous partnership model between a large company and start-ups is above all one which sets a path shared by all parties and which brings them a measurable benefit. A large corporation and a start up should only enter into a partnership if it makes sense and is useful in their value chain. It contributes to the growth of both partners by providing them with longer-term development prospects than a simple common project. They will be more motivated to strengthen their relationship and grow together.