Open Innovation – How Open Should You Be?

I found the following article interesting, because when I talk to innovation executives about their Open Innovation strategy, we always end up talking about how open should they be…. Should they openly post challenges?  Post Challenges in a private place?  Don”t post challenges, but encourage people to send in ideas?  If they post their challenges, willl their competition use the information? If they post their challenges, will they get inundated with more ideas than their resources can handle?

While there is no one right answer, the author, Stefan Lindegaard, posits that open innovation is a land grab, and that now is the time to position your company as an innovator in your industry.

He also suggests going down multiple tracks – not just depending on VCs, or posting challenges, or hosting entrepreneurial events, but going down multiple tracks, reinforcing each other.