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Open InnovationAcademic and Practical Perspectives on the Journey from Idea to Market$
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Arthur B. Markman

Print publication date: 2016

Print ISBN-13: 9780199374441

Published to Oxford Scholarship Online: June 2016

DOI: 10.1093/acprof:oso/9780199374441.001.0001

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Building an Innovation Coral Reef

Building an Innovation Coral Reef

The Austin Technology Incubator Case Study

(p.203) 9 Building an Innovation Coral Reef
Open Innovation

Gregory P. Pogue

Keela Thomson

Rosemary French

Francesca Lorenzini

Arthur B. Markman

Oxford University Press

Building an innovative culture is a key goal of most companies. An open approach to innovation has been shown to offer important advantages accelerating this goal. Current models of innovation ecosystems do not provide a clear roadmap to visualize the best manner of bringing together the right types of people to accelerate startup and new product success. The coral reef model was developed to conceptually organize community social structures necessary to improve idea-to-product development within the historical trend of open innovation. In a reef structure, participating companies and innovators access necessary technical wisdom and market insight while gaining access to capital more quickly. The chapter includes an analysis of the Austin Technology Incubator, which serves as an example to help define the activities of community structures such as incubators and accelerators that assist new enterprises in a competitive business marketplace within the open innovation framework.

Keywords:   Open innovation, incubators, accelerators, organizational structures, community structure, idea-to-product development, innovation ecosystems, coral reef, commercialization

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