European policymakers must take steps to encourage the development of open innovation, which involves various groups collaborating for mutual benefit, an EU advisory body has said.
In a report published on 12 March, the European Research Area and Innovation Committee of EU advisers says that open innovation can help businesses and other organisations to be more agile in taking advantage of the economic and social opportunities resulting from rapid technological change.
Open innovation entails groups from academia, business, government and wider society cooperating to solve problems without necessarily relinquishing their individual interests such as intellectual property. The report says that policymakers and others will need to take action to encourage this process.
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