Author Archives: Susan Ward
Leveraging the government as an Open Innovation partner can be a powerful competitive advantage. However, in our experience, the companies that are most likely to build a successful collaborative relationship with the government are those that make it a long-term commitment and part of their overall corporate growth strategy. It takes time, resources, and flexibility to make the relationship pay off. If your company just wants to respond to one Open Solicitation to receive some funding, it might not be worth the investment in terms of time and the diversion of other precious internal resources it will take to apply. However, for many companies, the competitive advantage, decreased risk of developing new technology, and opportunity for increased speed to market is well worth the investment. Government collaboration that is well integrated into a company’s broader strategy works best. That way, companies obtain funding, and maximize information and market impact from … Continue reading
The need to innovate faster and more efficiently to maintain a competitive edge, we’ve seen large and small companies implement an Open Innovation model. For many, this initiative to look beyond their own four walls for ideas and complimentary technology is producing great benefits. However, many companies aren’t aware of or overlook the government as an Open Innovation partner, to their detriment. Collaborating with the government on R&D projects is a strategic advantage that helps companies innovate more effectively and accelerate their company‘s growth. Government resources can provide companies with four key benefits: funding, technology transfer, access, and procurement opportunities. Funding The government is the largest supplier of research funds in the world. This year alone, the federal R&D budget is $160B. What’s exciting for industry is that the government is shifting its investments from traditional defense and health related applications and investing in sustainability and alternative fuels. More and … Continue reading
