Open innovation strategy of an early-stage SME
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Date
2021-03-26
Authors
Barrett, Gillian
Dooley, Lawrence
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Publisher
Springer Nature Switzerland AG
Published Version
Abstract
Leverage of both triple helix stakeholders through open innovation (OI) by early-stage SMEs is an area of inter-organisational collaboration that remains understudied. This chapter seeks to address this gap in the literature by exploring an exemplar case study of an early-stage medical device SME and the role of harnessing the R&D potential of public and private resources through collaborative projects for venture growth and the development of technological disruptive R&D. This study examines the partner resources harnessed, the objectives and nature of these engagements and the enablers/constraints of the SME in leveraging open innovation to advance their technological platform development. The analysis highlights that early-stage SMEs are capable of pursuing an OI strategy to leverage universityĆ¢ industryĆ¢ government resources and that the breadth of organisational collaborators increases as their capability to manage such collaborative R&D projects increases. Harnessing the potential of these external entities has enabled the SME case to raise the necessary funding, build industrial credibility, and achieve R&D co-creation to progress their disruptive technology closer to market launch and to grow the venture.
Description
Keywords
Open innovation , OI , Early-stage SME
Citation
Barrett, G. and Dooley, L. (2021) 'Open innovation strategy of an early-stage SME', in Fernandes, G., Dooley, L., O'Sullivan, D. and RolstadƄs, A. (eds) Managing Collaborative R&D Projects. Contributions to Management Science, pp. 85-99. Springer, Cham. doi: 10.1007/978-3-030-61605-2_5
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Ā© 2021, Springer Nature Switzerland AG. This is a post-peer-review, pre-copyedit version of a chapter published in Fernandes, G., Dooley, L., O'Sullivan, D. and RolstadĆ„s, A. (eds) Managing Collaborative R&D Projects. Contributions to Management Science, pp. 85-99. Springer, Cham. The final authenticated version is available online at: https://doi.org/10.1007/978-3-030-61605-2_5