Co-Innovation As A Type Of Innovation

One of the areas that is overlooked by most organizations is the opportunity for a new type of innovation: co-innovation.  Co-Innovation is different from what most organizations call joint R&D, joint ventures (JV) or customer driven innovation.

What is co-innovation?

Co-innovation is where two organizations come together in a 50/50 contribution of resources with the relationship having the following charactersics:

Each party has IP (intellectual property) to contribute

The two parties have an agreed upon area of strong mutual interest

There is agreement on the target (who is the market for the innovation, what is the innovation and how we go about creating and launching the innovation).

Neither of the organizations can deliver the innovation alone thus a mutual dependency.

The partners agree to deliver a real innovation to the market is an aggressive timeline (e.g. 24 months) where the innovation will have real and meaningful impact to both organizations

To lean how to setup co-innovation relationships, the lessons learned from having run +30 of these relationships and the pitfalls to avoid, listen to the podcast.