IMPORTANCE OF OPEN INNOVATION MODE FOR START-UP PROJECTS
IMPORTANCE OF OPEN INNOVATION MODE FOR START-UP PROJECTS

Author(s): Jan Boubín
Subject(s): Business Economy / Management, Economic development
Published by: Masarykova univerzita nakladatelství
Keywords: closed innovation; implementation; open innovation; open data; start-up;
Summary/Abstract: Innovation represents a potential for economic development and its acceleration. Start-up projects constitute another significant potential for this development. Valuable ideas of young ambitious people may help to open up a new business ways and can be a motivation for development even in various companies and in a large spectrum of business sectors. On the other side, there is a lack of experience and information base of young people this way. This make risks that may limit the possibility of realization of the project or reduce the economic return on investment of the project. Elimination of these risks may pose a Open Innovation mode and application of Open Data for the purpose of establishing and managing a Start-up project. The aim of the paper is to evaluate alternatives to the use of Open Innovation mode for Start-up projects, with emphasis on the application of Open Data for the implementation and management of projects. The outcome of this paper is a comprehensive overview of the practical use of Open Data and Open Innovation mode for Start-up projects.

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