Unlocking Open Innovation Podcast Series
🔔 The first episode has aired: https://linktr.ee/MSD_UnitedWayVietnam
Social open innovations in general and social open innovation startups specifically is currently an economic trend attracting increasing attention from businesses, civil society organizations and individuals due to its business efficiency alongside significant resulted social impact.
Social open innovation: An innovation model mobilizing the collaboration between relevant actors, including businesses, sponsors, civil society organizations and citizens, and the public sector to solve social issues utilizing businesses and community groups’ initiatives.
According to Deloitte’s 2018 Report on Global Human Capital Trends, 77% survey participants claimed social impact to be one of businesses’ top priorities; and 86% participants from the millennial group affirmed that business success should not only be measured using financial indicators but also indicators of other aspects.
Besides, external factors such as government, institutes, and civil society organizations also actively encourage startups, especially in sciences and technology, to participate in designing social innovation. According to Mr. Pham Hong Quat, General Director of the National Agency for Technology Entrepreneurship and Commercialization (NATEC), the more “open” innovations are, the easier to access and utilize existing knowledge and technology around the world, thereby saving operation costs and human capital for young businesses. However, accompanied with the advantages of open innovations are multiple challenges but also opportunities for startups, such as to balance between being profit-oriented and social-oriented, or how to become more attractive to investors, and so on.
We invite you to listen to the sharings of Mr. Pham Hong Quat, an expert in policy making on intellectual property protection, technology transfer, innovation and business development, answering to the key question “What is it to utilize external intelligence – tackle internal problems?”
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