The Reach For Growth:
Open Innovation Challenges
Open innovation challenges save money and reduce time to market by tapping into research and development done by others and giving you access to innovation that is ready for commercialisation.
The Reach is achieved when an organisation can innovate well with others outside of their business. Engaging with external parties from large numbers of small and medium sized technology businesses to customers and consumers. The benefits are that it encourages business models with greater flexibility and which are more responsive to change; extends the reach of the organisation, de-risks innovation investment, increases development timings, and creates better innovation resiliency.
It results in the co-creation and development of your sector’s eco-system, with you at the helm, and a structured network to build upon. We help you to develop Open innovation practices, like accelerators and incubators. We help to specify and implement these programmes, as well as act as an intermediary for Commercial, Academic and Government partnerships, accessing the funding you need to make your business successful. Our access to finance programme covers small technology companies looking for early stage grant funding through to larger companies, academia and governmental agencies looking to put together a complex collaborations.
Identifying viable concepts
Why use open innovation challenges?
Open innovation challenges are the modern alternative to traditional procurement and mean that you don’t just find a serviceable solution but the best solution possible.
This method of innovation produces highly successful results as it plays to the strengths of both parties and allows them to co-create a solution. For the start-ups the expertise and guidance of established sector leaders can be instrumental in building a successful product. As a larger organisation this process allows you to help shape product development and the trial provides a low risk way of trying out new ideas. Working with a start-up and learning from the way in which they work enriches internal innovation initiatives.
See open innovation challenges in action
Learn about how we implemented open innovation challenges for Amey