Open Innovation 4.0 - Are we already there?

In order to generate sustainable growth, SMEs (Small and Medium-Sized firms) and startups that emerged in a digital and dynamic environment, while collaborating with other stakeholders, including large corporations, create novel digital solutions, experiment with novel business models,promote innovative socially-responsible ecosystems.

Technologies are drastically advancing, and the demand for digital platforms like artificial intelligence (AI), the Internet of Things (IoT), big data and analytics, and digital experiences is rising extremely fast. Rapid technological innovations create a disruptive influence on the economy, society, organizations, and people, becoming mainstream and a new normal in the pandemic and post-pandemic times.

This unprecedented world crisis is embracing long-term innovations, and in order to sustain, private and public players are encouraged to

• reimagine their business models,
• meet new customers' demands, behaviors, and expectations,
• increase the focus on emerging and promising futuristic technologies.

While current companies are focusing mainly on customers' needs and problems, solving shared problems vs. commercial benefits is becoming a new reality and a competitive advantage. Sustainability, environmental protection, and social responsibility are the new core of entrepreneurial, innovative strategies. Developing sustainability-oriented open innovation

requires the engagement of a wider number of stakeholders and following a more global and strategic approach to

• data, transparency, and partnerships,
• green and circular economy.

This framework moves Open Innovation to the next level, with the key pillars as

• Digital transformation
• Sustainable innovations
• Open ecosystem

Open Innovation 4.0 is focused on humans, technologies, and sustainability as the center of disruptive innovation.

Fostering open innovation ecosystems is the core in accelerating societal and economic recovery and enhancing social and environmental responsibility within local communities.

See you at #VLOpenInn January 2021!