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MORE THAN EIGHT OUT OF 10 ORGANISATIONS SEE OPEN INNOVATION AS CRITICAL FOR ADDRESSING SUSTAINABILITY CHALLENGES
Capgemini Research Institute ’ s latest report has revealed that three of the top five cities where organisations plan to focus investments in Open Innovation Labs in the next two years are in Europe .
Three-quarters ( 75 %) of organisations state that open innovation is critical to addressing complex challenges in today ’ s business landscape . According to Capgemini Research Institute ’ s latest report , The Power of Open Minds – How open innovation offers benefits for all , 71 % of organisations say that they plan to increase their investment in open innovation practices in the next two years , while 28 % intend to maintain their investment at its current level .
Open innovation widely recognised as critical in solving key business challenges develop new ones , create new business models and ensure more efficient spending in R & D .
The report also finds that 83 % of organisations see open innovation as a critical success factor for addressing sustainability goals . However , this is a recent trend for companies , with over two-thirds ( 68 %) of them only starting to focus on open innovation for sustainability purposes in the past two years . Those that have leveraged open innovation are already reaping benefits – with 63 % citing improvements in environmental sustainability indicators and 55 % citing improvements in social sustainability indicators because of their open innovation initiatives .
Navigating today ’ s complex business ecosystem requires a collaborative approach and an ecosystem of partners . The report finds that businesses adopt open innovation in order to improve existing offerings and
In addition , the report finds that over 60 % of organisations are experiencing improved operational efficiency , increased agility and stronger revenue thanks to open innovation . Over half ( 55 %) also
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