Open innovation is an approach that advocates sharing and collaborative development, joint patenting and co-commercialization of innovative ideas without using closed and limited resources.
For example, an institution can develop new products and ideas by sharing risks and gains with its business partners. In this way, the boundaries between institutions and the ecosystem they interact with become permeable and innovative ideas are transferred both inside and outside the institution.
The open innovation approach argues that in a world where information has become so widespread, it is now very restrictive for institutions to do their own research with their internal resources, and instead they should resort to methods such as purchasing or licensing patented inventions or new processes. In addition, it also advocates the opposite, namely, the licensing, joint-ventures, spin-off, and general availability of works or patents developed by a company that are not part of the company's core business.
Under the coordination of the Open Innovation Association, HacknBreak Open Innovation Camps and Conferences are organized in 2016 to increase the awareness of the open innovation approach.