Investigating the Impact of Open Innovation on the Creation and Growth of Technology-Oriented Startups

Abstract

This study aims to explore how open innovation strategies influence the development and growth of technology-oriented startups. Utilizing a qualitative research approach, data were collected through semi-structured interviews with 20 participants, including entrepreneurs, startup managers, and innovation experts. Four main themes were identified: the significance of open innovation in product development, the role of strategic collaborations, the effects of open innovation on capital attraction, and challenges related to intellectual property and trust. These themes highlight the benefits and obstacles startups encounter when implementing open innovation strategies. Open innovation plays a crucial role in enhancing the innovative performance and growth of technology-oriented startups. Successful implementation of open innovation strategies requires a strong organizational culture, effective knowledge management capabilities, and trust-based relationships.