Open Innovation As A Strategy To Build An Efficient Ecosystem For Startups ‎

Abstract

In the current era, the rapid emergence of innovative products with shortened life cycles necessitates that startup organizations adopt strategies that are responsive to their changing environment. Therefore, an open innovation strategy becomes essential for startups, enabling them to leverage available innovation sources in their external environment to develop new products. This study aims to shed light on open innovation as a strategy for building an effective ecosystem for startup organizations. The study concludes that open innovation serves as a theoretical model for managing modern innovative activities in theera of knowledge dissemination.