Open innovation strategy of an early-stage SME

Loading...
Thumbnail Image
Date
2021-03-26
Authors
Barrett, Gillian
Dooley, Lawrence
Journal Title
Journal ISSN
Volume Title
Publisher
Springer Nature Switzerland AG
Research Projects
Organizational Units
Journal Issue
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 universityâ industryâ 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 Rolstadås, 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
Copyright
© 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 Rolstadås, 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