What are the benefits and challenges of participating in external innovation communities?

El corporate venturing se está consolidando como pilar esencial en las estrategias de crecimiento empresarial. A través de estas metodologías, las empresas pueden aprovechar capacidades externas para dinamizar su innovación y acelerar el desarrollo de soluciones disruptivas. Insights clave: ◽️Inteligencia colectiva: Amplifica el poder creativo y de resolución de problemas, integrando múltiples perspectivas ◽️Desarrollo de ecosistemas: Conecta startups, corporaciones y academia, generando sinergias que habilitan avances tecnológicos ◽️Validación externa: Agiliza la mejora de productos mediante feedback especializado ◽️Nuevas oportunidades: Abre puertas a recursos, inversores y alianzas estratégicas que aceleran el ciclo de innovación

Benefits of participating in external innovation communities: 1.Gain fresh perspectives and innovative solutions from a broader network of experts. 2.Form partnerships with like-minded organizations or individuals to co-create solutions. 3. Leverage collective knowledge and resources to solve challenges faster. 4. Build relationships with potential partners, investors, or talent. Challenges: 1.Managing ownership of ideas and ensuring protection can be complex. 2.Collaborators may have differing goals, priorities, or timelines. 3.Adapting external innovations into internal processes can be challenging. 4. Sifting through numerous suggestions to find actionable solutions can be time-consuming.

🗣️ Participating in external innovation communities can transform your business. Here's how: 1️⃣ Gain fresh perspectives by engaging with diverse minds 🌐. 2️⃣ Access cutting-edge technologies and trends earlier 🔍. 3️⃣ Foster strategic partnerships to drive innovation forward 🤝. For deeper insights, read "Open Innovation Results: Going Beyond the Hype and Getting Down to Business" by Henry Chesbrough. #InnovationCommunity #CollaborativeGrowth

Save time, effort, and money learning from others that have already passed through the same challenge. Some of the most common I have seen are: 👉🏽Creating an innovation committee 👉🏽Training and Scaling innovation agents 👉🏽Innovation culture challenges What helped me in the past, joining Relaci, the biggest corporate innovation community in Latam

One of the greatest advantages of being actinve in the innovation ecosystem is the opportunity to collaborate and benchmark within ecosystem. Learning from the mistakes and successes of other members of the community, you save time, effort, and money, avoiding reinventing the wheel. At the same time, you can gain valuable insights into best practices and strategies that can be applied in your own organization. This exchange of knowledge and experience is crucial to accelerating progress and maximizing the impact of your innovation initiatives.

Engaging in external innovation communities can supercharge your team's creativity and problem-solving! 🌟 Here’s how to make the most of it: 1. Be open to diverse perspectives 🌐: Embrace ideas from different industries and cultures to fuel innovation. 2. Build strong relationships 🤝: Network actively and form meaningful connections for long-term collaboration. 3. Stay updated 📚: Regularly participate in community events and discussions to keep abreast of the latest trends. 4. Share and learn 🎓: Contribute your knowledge and learn from others' experiences to foster a collaborative spirit. 📚 For an insightful read, check out "Open Innovation: Researching a New Paradigm". #Innovation #Collaboration

It’s much more common in my experience to call this an INNOVATION ECO SYSTEM, instead of external innovation communities. An innovation ecosystem refers to the interconnected network of individuals, organizations, and institutions that collaborate and interact to foster innovation and drive economic growth. They typically consist of: 1. Research institutions and universities. 2. Startups and entrepreneurial communities. 3. Established companies and corporations. 4. Government and policymakers. 5. Investors and venture capitalists. 6. Incubators and accelerators. 7. Support networks and service providers. 8. Local communities and networks. Successful innovation ecosystems accelerate the transformation of industries and societies.

El concepto innovación abierta o innovación externa creo que ya está obsoleto. Considero que hay que hablar de ecosistemas de innovación. El ecosistema de innovación es el lugar en el que se promueve el desarrollo de un proyecto o negocio, siempre con la innovación como base común para todos las pastes que forman el ecosistema. Estas partes pueden ser corporaciones, startups, centros tecnológicos, universidades, etc.

💡 External innovation communities open the door to new opportunities, challenge your own ideas, and learn from other industries. Let's add some benefits ++ → Connect with people from different industries, backgrounds, and expertise. → Increase creative thinking and idea generation → Exchange knowledge and best practices. → Find new partners, customers, and/or experts to collaborate. Challenges: → Getting consumed by the information overload can be overwhelming. → Map the quality of the contributions and the most valuable inputs. → Time is limited, so set the rules of how much time and investment is required. A clear strategy and goals need to be defined before participating in these communities. Cheers 🚀🙏 #unleashinnovation

When I assumed the Asia innovation lead role, I encountered the natural trepidation of steering in uncharted waters. Despite having honed my skills on developing a number of innovation and efficiency initiatives, the true test lay in fostering higher-level collaboration. At the time, I was fortunate to receive advice from one of our global directors: to extend my gaze beyond our walls and find external innovation communities. In these networks, I met professionals from different sectors, I gained a range of diverse viewpoints. This exchange has been beneficial, helping me to find new approaches all the time. This has underscored ab old adage: "If you want to go fast, go alone. If you want to go far, go together."

While trust and intellectual property concerns are valid challenges, they also represent opportunities for fostering stronger community bonds and establishing mutually beneficial agreements. Embracing transparency and proactive communication can mitigate these challenges, leading to deeper engagement and co-creation among members. Moreover, navigating cultural and language barriers within global innovation communities presents an opportunity to celebrate diversity and leverage collective cultural intelligence for more inclusive and impactful innovation outcomes. Balancing the need for competition with collaboration within these communities requires equilibrium that can catalyze healthy competition while fostering cooperative synergies.

Gerenciar comunidades de inovação é uma tarefa complexa e cansativa. Planejar o envolvimento em grupos estratégicos é fundamental para garantir resultados significativos, pois participar ativamente dessas comunidades demanda tempo e esforço. Sem uma dedicação clara à colaboração, o relacionamento se torna insustentável e o canal é abandonado. É essencial investir em interações significativas para colher os benefícios das comunidades de forma duradoura. Planejamento e objetivos claros de envolvimento e parceria podem ajudar a alcançar melhores resultados.

When you first introduce yourself in such a community, do not approach it with protectionism and distrust. Do not be afraid to share ideas and discuss challenges. Chances are that everyone else there has very similar problems. Apart from some really breakthrough (and verified) ideas that actually mater, everything else is judged by implementation. It is how you are going to implement it, not the fact that at some point in your life you had an epiphany.

Another critical challenge lies in measuring the impact and ROI of community participation. Quantifying the benefits of external innovation communities can be complex due to the intangible nature of many outcomes. Developing robust metrics and key performance indicators (KPIs) is essential to demonstrate the value of community engagement to stakeholders. Additionally, ensuring that community activities align with broader organizational goals and strategies is crucial for maximizing impact and avoiding resource misallocation.

In my experience in practice TRUST, PRIORITY, and OWNERSHIP are the three biggest challenges. 1. To TRUST that everyone, and not only you, share their most valuable insights and ideas. 2. To be sure that everyone one in the ecosystem PRIORITISES your common innovation initiatives as much as you do, to prevent that you are the only one who does the work 🫣🤣. 3. To have agreed on the (split of the) OWNERSHIP of the new concept jointly being developed, otherwise you might meet your partners in court sooner or later bartling over the intellectual property rights (ipr).

It is a lot easier to communicate and stay up-to-date within your organization. Outside - all bets are off. You can have the best of intentions, but your day job gets the prioritized spot on your calendar. If you're going to get involved externally, make sure you have the time to follow through with the commitment.

Personally, I appreciate the diverse perspectives and knowledge exchange, fostering creativity. However, challenges include managing conflicting priorities and differing timelines. Coordinating diverse schedules for collaboration poses logistical hurdles. Balancing contributions from various stakeholders can be intricate, requiring effective communication. Despite these challenges, the potential for breakthrough ideas and expanded networks makes navigating these complexities worthwhile, enhancing the overall value derived from external innovation communities.

External innovation communities pose several challenges, notably in managing diverse expectations, fostering trust, and maintaining engagement. Coordinating varied stakeholders' contributions while aligning with internal goals demands careful navigation. Building trust among participants, crucial for fruitful collaboration, requires transparency and effective communication. Sustaining engagement over time amidst competing priorities and evolving needs poses an ongoing challenge. Despite these hurdles, nurturing vibrant external innovation communities can yield valuable insights and foster disruptive solutions, making the effort worthwhile for organizations committed to open collaboration.

Um dos principais desafios é a gestão da propriedade intelectual e da confidencialidade - já existem diversos mecanismos para evitar, só precisa de atenção. Além disso, a coordenação e a comunicação eficaz entre os membros da comunidade, que podem estar geograficamente dispersos e ter diferentes culturas organizacionais, podem ser desafiadoras. Outro desafio é garantir a sustentabilidade e a continuidade das iniciativas de inovação, uma vez que dependem da participação ativa e do engajamento constante dos membros. Superar esses desafios requer uma abordagem cuidadosa e estratégica para a participação em comunidades externas de inovação.

In my experience, the biggest challenge in these communities is coordination and communication. Establishing clear communication channels and expectations is crucial to ensure everyone is aligned on goals and responsibilities. Another challenge is managing trust and intellectual property. Building rapport while respecting privacy and protecting your own ideas is essential. It’s important to avoid sharing sensitive information without proper agreements.

Overcoming the challenges that come with external innovation communities could be simply and practically seen in establishing a committee charter that highlights the vision, external innovation purpose, area of collaboration and limitations, duties and responsibilities, the innovation strategy and projects. The charter should consider the external innovation communities visions, and could be drafted, reviewed and agreed on by all considered parties. The same could be seen as a good reference whenever a challenge/conflict management is required.

Establish boundaries and guidelines for collaboration. This includes setting rules for communication, decision-making processes, and how intellectual property is handled. Clear guidelines help in managing expectations and maintaining a respectful and productive working environment.

1. Align with the community's mission and values to build trust. 2. Contribute actively and generously to the community to gain credibility. 3. Communicate transparently and follow community protocols to avoid misunderstandings. 4. Protect intellectual property through clear agreements to mitigate legal risks. 5. Dedicate sufficient time and resources to the community to ensure impact.

Overcoming the challenges of external innovation communities necessitates a shift towards a mindset of abundance rather than scarcity. Embracing a collaborative mindset where success is not zero-sum but rather amplified through collective efforts fosters a culture of abundance and mutual support. Moreover, adopting agile methodologies and embracing failure as a learning opportunity encourages experimentation and rapid iteration, accelerating innovation cycles within these communities. Leveraging emerging technologies such as blockchain and decentralized platforms can also address trust and intellectual property concerns, enabling secure and transparent collaboration while preserving individual rights.

Innovation communities which contain sector and industry participants who are adjacent to your own firm are helpful. Whilst having competitors in your broader innovation ecosystem should be encouraged (whilst managing concerns about IP or even anti-competitive behaviour), it's helpful to maintain sub-groups which contain a diverse non-overlapping group of participants (e.g. legal, insurance, tech consultancy, construction).

A diversidade em grupos de inovação é o mais importante para quem busca soluções para problemas complexos. Colaboradores com desafios, experiências e conhecimentos diversos instigam a visão de novas perspectivas. Em contraste, indivíduos com os mesmos desafios e históricos semelhantes tendem a resolver problemas de maneira similar, o que pode atrapalhar ou atrasar a visão de soluções mais disruptivas e não convencionais. A variedade de vozes enriquece o processo criativo, estimulando a busca por soluções inovadoras e adaptáveis a uma ampla gama de cenários.

Colaborar ativamente é importante, por isso é melhor selecionar poucos grupos, já que a qualidade da sua interação pode influenciar os resultados obtidos em cada comunidade. Participar de comunidades externas não é só uma forma de fazer networking, mas também de mapear oportunidades, eventos e parceiros não convencionais. Entenda o posicionamento que deseja ter em cada comunidade e seja intencional nas suas ações, garantindo que sua participação agregue valor e amplie suas oportunidades.

Following best practices in external innovation communities enhances engagement, collaboration, and reputation. Choosing aligned communities, being proactive and respectful, fostering transparent communication, and setting clear boundaries lead to successful partnerships. Protecting intellectual property and promoting ethical exchanges ensure a thriving and mutually beneficial engagement.

Successfully participating in external innovation communities requires following best practices and guidelines. Firstly, selecting a suitable community that aligns with your interests and objectives is important. Secondly, being proactive, generous, and respectful by actively participating, appreciating others, and sharing knowledge and resources is crucial. Thirdly, effective and transparent communication using the right tools and following etiquette is essential. Finally, establishing agreements and boundaries, respecting intellectual property rights, and protecting your own work are vital. While these practices may require effort and attention, they are manageable with commitment and a willingness to engage ethically.

To navigate these challenges, select a community that aligns with your objectives and values. Be proactive, respectful, and generous in your interactions—contributing regularly and appreciating others’ input fosters a positive environment. Communicate clearly and transparently, using the right tools and adhering to communication norms. Finally, set clear agreements and boundaries before engaging in collaborations to protect intellectual property and establish trust.

-Diversité des perspectives et de l'expertise : Les communautés d'innovation externes rassemblent des individus avec des parcours, des expériences et des domaines d'expertise variés. Cette diversité stimule la réflexion critique, favorise la résolution créative de problèmes et permet de mieux cerner les enjeux complexes sous différents angles. -Mise à l'échelle et amplification de l'impact : Lorsque les initiatives d'innovation d'un participant sont reconnues et adoptées par la communauté, cela peut considérablement amplifier leur portée et leur impact. La communauté peut servir de rampe de lancement pour faire évoluer et diffuser les solutions innovantes à une plus grande échelle.

Simply being part of a true Open Innovation system. For those who know how to exploit it, the collaborative advantage is the strongest business multiplier.

Participating in a global health innovation community, I observed how diverse collaboration enhanced the development of a mobile health application. Members from various backgrounds—tech, health, and business—brought unique perspectives that significantly refined the app's usability and functionality. This collaborative environment not only accelerated the development process but also embedded the application with a range of features that catered to a broader user base, showcasing the power of shared knowledge in overcoming complex challenges.

External innovation communities play a crucial role in improving innovation management because they offer unique perspectives and resources that may not be available internally. By engaging with individuals from diverse backgrounds and experiences, you gain fresh insights and ideas that can inspire and enhance your own innovation projects. These communities also provide a supportive environment where you can receive feedback, validation, and guidance from fellow innovators. Additionally, external communities offer access to valuable resources, such as networks, partnerships, and opportunities, that can accelerate the success of your innovation endeavors.

There are a couple of aspects to this article - it is combining innovation communities & open innovation (looking outside own organisation for collaboration around a specific challenge) Both are useful - collaboration works on the basis that some of the smarter people might actually work elsewhere - so tapping into their insights and ideas can be valuable (but issues of Trust, ownership, intellectual property need to be addressed. In terms of a community - the ability to share pains, lessons learned & questions with peers and like minded individuals is very useful and also can be quite therapeutic. This was the basis for Innovate Island - the non-commercial group I cofounded 4 years ago to support innovators on the island of Ireland.

Benefits: Diverse Ideas: Exposure to varied perspectives. Networking: Connect with experts and peers. Skill Development: Learn new skills. Resource Sharing: Access shared tools and technologies. Market Insights: Stay updated on trends. Enhanced Creativity: Boost creative thinking. Challenges: IP Concerns: Risk of theft or disputes. Goal Alignment: Difficulty aligning goals. Commitment: Requires significant time and resources. Quality Control: Ensuring relevant contributions. Cultural Barriers: Differences in communication styles. Confidentiality: Risk of sharing sensitive info.

One time at work, I realized that external innovation communities can offer more than just new ideas—they provide access to crucial resources and opportunities. By actively engaging, I’ve connected with partners, investors, and mentors who have been pivotal in advancing our projects. The key to maximizing these communities is to contribute actively, building strong relationships that unlock valuable resources and accelerate innovation.

My biggest learning is to START SMALL with one or two partners, based on trust and mutually agreeing on priorities and ownership. And to scale up only when your new innovation ecosystem proves to be productive. Wishing you lots of success, Gijs

Open Innovation, the big picture, is collectively highlighting the inside and outside innovation processes of ideation, research and development, to production and market! This subject of matter is important when digesting the concept of external innovation communities, since understanding the bigger picture and the whole ecosystem will direct us to the importance of each component and ease the understanding of potential opportunities and challenges. Pros and cons still exist but could be tracked and monitored if well managed!

Participating in external innovation communities brings benefits such as gaining inspiration, expanding knowledge, networking, receiving feedback, and accessing resources. However, there are challenges like managing time, facing competition, addressing intellectual property concerns, and managing expectations. It is important to effectively navigate these challenges to maximize the value derived from these communities.