Technology based Innovation
Association members understand the complexity of the term “innovation”, often used in an inappropriate context and, even out of context. Innovation can be categorized in a variety of contexts, including in relation to technology, commerce, social systems, economic development, and policy construction. There are, therefore, a wide range of approaches to face the innovation challenge. Innovation includes many different perspectives and point of view. This means that many different classification approaches are possible. Some examples are:
- Process innovation
- User-driven innovation
- Open innovation
Process Innovation
The term process innovation means the invention and exploitation of new methodologies to produce goods and services. An innovative process can involve a business model of a Company which may increase shareholder satisfaction or an improvement in terms of efficiency to produce an industrial good. This can be a different perspective and a synergic dimension with the product innovation, where it means the capability to improve a product or invent a new one.
Open Innovation
The term “open innovation”, has been used for the first time in the book “Open Innovation: The new imperative for creating and profiting from technology” by Henry Chesbrough. This term introduces an open approach in technology-based innovation and in the industrial R&D departments, it uses cooperation and open approaches between Industries, Academics and Institutions. Open innovation means an idea to open the company’s innovation department to find a value chain of innovation processes where different actors contribute in different manners. With this approach, patents can be acquired and validated also outside of the company context, for example through the use of spin-offs, venture capitalism and outside licenses to create value. This paradigm is in line with the association’s “open” mission of communication and dissemination of R&D results outside the specific technology and academic worlds.
User driven innovation
The term “user driven innovation” indicates the possibility to take into consideration an idea, an invention or a new process lead or guided by users. Within this approach, consumers can participate and lead the innovation process, suggesting, creating and testing new products, processes or services.
We can reference social networking, user-generated content and participative media to give some examples relevant to this kind of innovation. Again this is a perspective close to the vision and mission of the PIIU Association.