Open Innovation - The Business of Cosmetics
Henry Chesbrough popularized the phrase “open innovation” in his 2003 book Open Innovation: The new imperative for creating and profiting from technology. He described the concept as “the use of purposive inflows and outflows of knowledge to accelerate internal innovation and expand markets for external use of innovation, respectively.”
Open innovation assumes that firms should use external ideas as well as internal ideas to advance their technology. As boundaries have become more permeable, innovations can easily transfer inward and outward. Companies cannot afford to rely entirely on their own research, but should buy or license processes or inventions from other companies or research universities. In addition, internal inventions not being used should be taken outside the company through licensing, joint ventures and spin-offs.
Join us on March 23, 2017 as a group of diverse experts illuminate the ways open innovation can stimulate your company’s future. Learn the benefits, challenges and potential pitfalls when you explore opportunities with other companies through partnerships and licensing and with universities through their technology transfer systems. Anyone with a concern - for the central role innovation plays in commercial success in the 21st Century- cannot afford to miss this exciting event.
|Event Date||03-23-2017 9:00 am|
|Event End Date||03-23-2017 5:00 pm|