InterTradeIreland – Open Innovation with Henry Chesbrough

On March 3rd, the Whitaker Institute at NUI Galway and the InterTradeIreland All Island Innovation Programme partners were delighted to host an online lecture followed by a live Q&A session with Professor Henry Chesbrough; a  leading scholar in open innovation management. Professor Chesbrough coined the term ‘open innovation’ and developed the concept in his 2003 book, ‘Open Innovation: The New Imperative for Creating and Profiting from Technology’. Since then he has become a leading scholar and practitioner internationally in the open innovation paradigm, which centres around the need for companies to use ‘outside-in’ and ‘inside-out’ ideas and paths to market.

In this lecture, which specifically addressed SMEs on the island of Ireland, Professor Chesbrough explained why engaging in open innovation is imperative more than ever in response to the COVID pandemic. In particular, his lecture addressed the three key steps to deal with Covid-19 via open innovation:

Step 1: Stop the disease

Step 2: Start the recovery

Step 3: Manage the reoccurrence

In so doing, Professor Chesbrough offered insights into what areas of the economy and workplace will be different after the pandemic and in the ‘new normal’. He also discussed the requirement of companies to build an infrastructure to effectively respond to the pandemic and thereby build resilience. Specifically addressing SMEs, Professor Chesbrough discussed the capabilities that SMEs have for engaging in open innovation whilst also offering practical lessons and opportunities for SMEs.

Professor Henry Chesbrough is educational director of the Garwood Center for Corporate Innovation at Berkeley Haas. His research focuses on technology management and innovation strategy. He also teaches at Esade Business School at Spain’s University Ramon Llull. He has been an adjunct professor at the Harvard Business School and previously served as product manager and vice president of marketing at Quantum Corporation, a manufacturer of data storage devices and systems. He earned a BA in economics from Yale University, an MBA from Stanford University, and a PhD in business administration from Berkeley Haas.