Antecedents and consequences of open innovation: a conceptual framework

Abstract

PurposeEntrepreneurship across sectors has been impacted by the paradigm of open innovation in the last few decades. Although Open Innovation is argued to impact firm performance the strategic building blocks of open innovation are not discussed in the prior literature. This study aims to conceptualize open innovation and identify the antecedents and outcomes of open innovation.Design/methodology/approachUsing a qualitative study based on open-ended essays solicited from 47 SMEs and startups based out in Europe and the USA, the authors propose an overarching conceptual framework using a theoretical sampling approach adopted to establish data saturation and data analysis was carried out using thematic coding. Market place evidence was used for triangulation of the authors’ research framework and to establish the validity of the constructs.FindingsBuilding on the entrepreneurial bricolage theory, this study proposes bricolage and Platformization of innovations as antecedents to open innovation. The study also conceptualizes open innovation by identifying three underlying dimensions for open innovation. Next, the study proposes a positive association between open innovation and firm performance. Finally, the authors discuss relevant implications with future research directions of the study.Practical implicationsThe practical implication is the development of a sustained competitive advantage enhancing framework for entrepreneurial ventures with the help of open innovation.Originality/valueWith the application of the developed framework for the entrepreneurial ventures, a set of strategic activities related to open innovation can be proposed that would help these ventures to enhance their innovation and marketing capabilities, thereby helping them with a sustained competitive advantage. The present study would also help the policymakers to frame policies that help the firms with a shift toward open innovation.

Unravelling barriers in high-tech technology start-ups: practical insights and solutions for healthcare enterprises

“…, 2023a; Dhir et al. , 2023b; Malodia et al ., 2023) using a literature-driven process. These detailed essay-based questions were created by reviewing the existing literature on various barriers at various levels that are linked with the adoption of a new technology in an organisational context (Kamal, 2006; Kaur et al ., 2020a, b; Sydow et al ., 2022).…”

Bridging the valley of death: examining university science parks' influence on revenue generation

“…Following the global digital technology revolution, significant investments have been made in various digital technologies, facilitating the incubation and advancement of cutting-edge technologies within universities and their subsequent transition to university science parks (USPs) (Lu, 2019;Malodia et al, 2023). The successful revenue generation within universities is critical in the fiercely competitive international landscape and greatly influences a nation's strategic industry growth and economic development (Klofsten et al, 2019;Palomares et al, 2021).…”

“…Following the global digital technology revolution, significant investments have been made in various digital technologies, facilitating the incubation and advancement of cutting-edge technologies within universities and their subsequent transition to university science parks (USPs) (Lu, 2019; Malodia et al. , 2023).…”

How open innovation can help entrepreneurs in sensing and seizing entrepreneurial opportunities in SMEs

“…, 2009). Through the synergistic integration of external and internal resources, OI facilitates innovation and marketing capabilities (Gimenez-Fernandez et al ., 2022), and strengthens the acquisition of sustainable competitive advantage (Malodia et al ., 2023).…”