The definition of Open Innovation originated in 2003 via the U.S. economist Henry Chesbrough who, in his essay: The era of Open Innovation, discusses the topic and, among other things, writes:
“Open Innovation is a paradigm that states that companies can and should make use of external ideas, as well as internal ones, and access markets by internal and external routes, if they want to advance their technological competencies.”
Companies must therefore rely on an innovation model that takes into account not only internal ideas and resources, but also tools and expertise from outside, particularly from Start-ups, Universities, Research Institutes, Consultants and Non-competing Companies. The use of external resources brings a reduction in the process from the conception of a product through to its marketing. At the same time, companies should no longer only think in terms of internal exploitation of ideas, but must also consider routes to markets beyond their own borders, or alternatives to their own business model.
The approach we have chosen in embarking on this new venture is called Inbound Open Innovation, an Open Innovation that is based on adopting external stimuli to create innovation within the enterprise. The most common actions taken through this method are collaborations with universities and established partners.
We therefore chose to begin this journey of ours with a Call for Solutions with the theme ReThink Next Generation Coatings: sustainable solutions for the next generation of wall paints and coatings. Our goal is to find alternative solutions to reduce the environmental impact of water-based building paints and coatings, or to formulate products that can help reduce the environmental impact of the system to which they are applied. We have chosen to target primarily companies that can become our suppliers and/or collaborators, while without excluding the participation of start-ups and universities.