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Create open-innovation.md
Signed-off-by: Ana Jimenez Santamaria <ana@todogroup.org>
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content/en/open-innovation.md

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---
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title: Open Innovation
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status: Completed
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tags: ["fundamental", "", ""]
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---
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Open innovation assumes that useful knowledge is widespread, so that one needs to innovate by developing effective mechanisms to access this useful knowledge, and to share useful knowledge with others.
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Open Innovation is based on the fundamental idea that useful knowledge is now widespread throughout society. No one organization has a monopoly on great ideas, and every organization,
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no matter how effective internally, needs to engage deeply and extensively with external knowledge networks and communities. An organization that practices open innovation will utilize external
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ideas and technologies as a common practice in their own business and will allow unused internal ideas and technologies to go to the outside for others to use in their respective businesses.
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## 💻 Source
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* [European Commission Open Innovation Definition](https://digital-strategy.ec.europa.eu/en/news/what-open-innovation)

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