Open Innovation, moving from in-sourcing towards outsourcing of technology
For some time now the “Open Innovation” concept has been adopted by most companies that are involved in research and product development activities. R&D departments are operating more open and seeking increasingly the interaction with other organizations. While the first focus was often mainly in the in-sourcing of technology, more and more companies now becoming aware of the potential of outsourcing some of its technology. One of the reasons we launched UDV is to respond to the increasing market demand for independent and hands-on business development support in the outsourcing of technology.
At Ugly Duck Ventures, we recognize numerous innovations languish due to very limited attention or total neglect stifling its potential development. Non-core innovations have value and can grow into a successful business if the appropriate attention and dedicated resources are provided. We want to take care of these “ugly ducklings” and with the proper attention to nurture them so they can grow into the beautiful swans they were meant to be. This outsourcing of technology, our playing field, is visualized in the figure below.
What makes the outsourcing activities very extra attractive, is that in general the additional investments are low or even zero for our clients. Marketing of these innovations means often generating profits instantly!
We achieve results for our clients by a focused business development approach and of commercial venturing. Our appropriate attention, entrepreneurship and energy create the space for these innovative opportunities to develop into successes.