Open Innovation as a Strategy for Creating Value in Technology-based companies

Abstract

Given the current scenario established by dynamic and competitive practices, organizations seek strategies that meet the market’s demand, create organizational value and allow the emergence of differentials before the competition. On one hand, innovation is considered a tool for achieving competitive advantage and has been sought through stimulation for creating ideas, the development of intellectual capital and efficient resources use. On the other hand, what is seen in some organizations is the absence of resources that allow financial, personal or technological growth. In this sense, the use of open innovation emerges as a proposal to create organizational value and allows companies to support each other, transferring knowledge, financial and even technological resources. This study aims to determine which factors stemming from open innovation can influence Technology-based Companies to create value. For such, a quantitative and descriptive survey was carried out, with a questionnaire applied to employees of Technologically Based Companies. The results pointed out that the knowledge networks and the organization innovation profile are necessary aspects for the definition of open innovation practices and open innovation factors such as the Partnership Establishment, product development through licensing and patents, spin in and spin-off, corporate venturing and chain value are able to influence value creation.