NEW RESEARCH | How to work successfully with external innovators

Companies looking to strengthen their innovation capabilities are increasingly turning to external innovators. So how do you get a really successful collaboration?

There are a few factors that determine whether collaboration with outside innovators actually leads to innovative opportunities, ideas and solutions. This is according to Professors Simone Ferriani and Gino Cattani, who recently published the article “Lessons Learned From Outside Innovators” in the MIT Sloan Management Review.

The key lies in a combination of cultural openness, structured approach clear processes and long-term commitment:

The importance of an open culture

For external innovators to fully contribute, the company needs to create an environment where new ideas are valued. Transparency and open communication are key to building trust and ensuring that all parties share the same vision.

Structured cooperation delivers results

The research further shows that successful companies often have dedicated teams or roles that manage collaborations with external actors. Through clear structures and incentives, ideas from external innovators can be evaluated, developed and implemented more effectively.

Flexibility and risk-taking

External perspectives can challenge existing processes, and companies that are open to change are more likely to benefit from new insights. Allowing experimentation and accepting the failure of some ideas is an important part of innovation.

Long-term relationships create sustainable innovation

Finally, building networks of external innovators is important, it provides companies with a more dynamic and sustainable innovation strategy. Continuous dialog and the development of forms of cooperation are crucial for the success of these relationships over time.

By living up to these factors, companies can better harness the potential of external innovations and create a more dynamic and competitive organization.

About the authors
Simone Ferriani is Professor of Entrepreneurship at the Department of Management, University of Bologna, Italy and Bayes Business School, City & St.George’s, University of London, England.
GinoCattani is Professor of Management and Organization at the Stern School of Business, New York University, USA.