Toward a framework of the process of open innovation: Case of Acclarent in the medical device industry

Abstract

Using a case study of Acclarent, a medical device company, this paper attempts to propose a framework to further illustrate how the process of open innovation is implemented in the medical device industry. We examined five elements in the mechanism of the open innovation process. The lesson learned from Acclarents case is that the success of a medical device start-up depends on how well the company can effectively manage the flow of knowledge to satisfy unmet needs, while integrating their in-depth knowledge of FDA regulations and third-party payers reimbursement policies into the product innovation process.