Open Innovation and Its Applicability in Different Industry Settings: Unlocking the Potential of Open Innovation in Traditional Low-tech Industries

This study explores the applicability of Open Innovation in different industry and business settings. The main focus is on traditional low-tech industries which have been, to a large extent, disregarded by the existing literature on Open Innovation. The field research among 15 innovation managers and experts provided an insight into which factors are essential for the successful implementation of Open Innovation, what are the challenges that companies may face during this process and what are some of the best tools and practices they may use. Findings from the existing literature were compared to results of the field research and incorporated into a complex model which presents the implementation factors and their interrelations.