Open innovation is usually viewed from inside out a focal firm, facing different strategies for combining internal and external ideas on its path to a product market. Open innovation could also be viewed from outside in as a set of markets for trading different inputs to and outputs from innovation activities of firms and other actors. The purpose of this article is not to criticise the conventional view of open innovation but to contextualize it by presenting a contrasting view that complements it. Both views can and should be used by technology and innovation managers and by start-up entrepreneurs as well as by innovation policy makers and innovation scholars to advance their understanding and use of open innovation.
Published in Management of Innovation & Technology, June 2021