To do this, we need to work with partners who share our vision of meaningful innovation. That is why we actively pursue what we call Open Innovation – sharing our expertise and technical abilities with universities, institutes, and other companies so that, together, we can realize the very best ideas.
We engage in two kinds of Open Innovation. Through “inside-out” innovation, we make our skills and resources available to the outside world. For example, we regularly undertake contract research for external parties, provide technical facilities and support, and assist with IP licensing. Through “outside-in” innovation, we draw on the capacities of individuals, organizations, and even small start-ups from around the globe. By providing a broader window on the world of health and well-being, these strategic partners help us gain new insights and access to new technologies.
New sources of innovation
Philips Research has decades of experience in both these approaches, but we are always looking for creative new sources of innovation. Building on our long-standing relationships with universities and technical institutes and on our experience in countless public-private partnerships, we are now experimenting with strategies like crowd-sourcing and social networking to come up with new technical solutions.