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Location: Center Stage, Booth 563
Date: Thursday, April 19
Time: 2:00pm - 2:45pm
Pass Type: Conference (Paid), Expo (Free) - Get your pass now!
Free Content & Activities: Center Stage
Vault Recording: TBD
Open Innovation is focused on uncovering new ideas, reducing risk, increasing speed and leveraging resources. The concept of Open Innovation is based on enabling a company to connect with someone who has already developed a needed technology or who is further along the development path. The term Open Innovation typically involves putting forward a design challenge to a wide group in order to elicit a variety of solutions, allowing the initiator to review and select the best solution to the problem.
As open innovation brings certain opportunities to larger corporations, it also increases certain risks in securing IP and protection in smaller entrepreneurial companies. This panel will explore the pros and cons of Open Innovation and explore alternative models such as collaborative innovation and Government SBIR grants. Further, the panel will discuss when it makes sense to apply these methods. Case studies will illustrate concepts such as industry collaboration on new drug formulation and meeting the needs of a population underserved.