The concept of open networks is a fairly new business model however open networks is transforming how companies develop new product and service ideas. Companies utilizing open networks use external ideas as well as internal ideas to advance technologies. P&G claims that more than 35 percent of its new product ideas now come from outside the company. Companies can no longer rely entirely on their own resources to stay competitive in today’s global economy. The successes come from better ideas and innovative thinking developed from collaboration that transcends the boundaries of the company itself. This same concept can be used to transcend our region into a place where people want to live, companies want to locate and from which globally relevant ideas spring.
The benefits of open networks can be used to create significant improvements in our entrepreneurial ecosystem. As we look to other cities that have a culture of innovation within their community, key words such as collaboration, networks (both dense and open), and inclusive mindsets continue to be a mantra expressed by all cities with a thriving innovative culture.
As our region looks to create and implement collaborative spaces that will provide an inclusive environment to share ideas and concepts, everyone has the potential to benefit. Establishing a network that is inclusive, open and welcoming enables individuals interested in developing a new concept the opportunity to connect with others in the community willing to make linkages and open doors. By having an open network environment and creating valuable connections for start-ups will reduce the amount of time an individual can go from idea to product launch.
The old saying “It’s all about who you know” still rings true in some form. The goal is to allow everyone an easy-to-navigate roadmap to the right people willing to collaborate and connect.
