Open Innovation has been saved
Connect and innovate together
Markets are getting more volatile, R&D pipe-lines are stretching and the low-hanging fruit is becoming increasingly more difficult to reach. Companies face the increasing need to connect, share risk and collaborate. We help you to identify, connect and work with potential partners so your company can gain collaborative advantage by engaging external resources to find solutions for specific business opportunities and challenges.
Why we do it
Markets are getting more volatile, R&D pipe-lines are stretching and the low-hanging fruit is becoming increasingly more difficult to reach. Companies have never before felt the need to connect, share risk and collaborate more than today. However few companies succeed in building strong relations that allow companies to really innovate openly with each-other. Monitor Deloitte has identified 4 main roadblocks that impede open innovation:
- Insufficient connectivity, namely market insights (data) and relations, with unfamiliar markets and industries;
- Cultural differences and in-depth specialization makes it hard for companies from different industries to understand each other and recognize the potential value of their assets in other industries;
- Fear of losing competitive advantage when revealing intellectual property;
- Business model protectionism refers to the initial reflex of companies to shield their products, costumers, market channels, resources, partners, etc.. This makes it very hard for companies to build vital thrust to collaborate.
How we do it
Monitor Deloitte has dedicated professionals to manage and facilitate complex collaboration projects:
- Connect to other companies within and beyond your natural network – Screen landscape for targets, identify and contact potential partners. Indentify market challenges and drivers for Open Innovation.
- Align strategy of the partners – facilitate relations and translate potential synergies in a clear partnership strategy;
- Define partnership value proposition – translate strategy based on assets and market opportunities into a joint (win-win) value proposition and market approach. Monitor Deloitte provides valuation, IP and legal support to facilitate the partnership;
- Validate business case & operating model – Find consensus around financial model (cost- and revenue structure solution) including the in/output of the partners. Determine what collaboration operating model will be and how client can ensure objectives and synergies are met. Including roadmap to ensure externally-created solutions are integrated into the business;
What methodologies we use
Monitor Deloitte’s Open Innovation methodology is a systematic approach to engaging and directing external resources to find solutions for specific business opportunities and challenges.
As an integrated service firm Monitor Deloitte can support you from strategy to structural, administrative and legal implementation during open innovation projects.
Monitor Deloitte’s has dedicated legal experts on the subject of Intellectual Property and related legal support. Who are experienced in facilitating partnerships, mergers and acquisitions (e.g. nondisclosure agreements, etc.).
Monitor Deloitte M&A and financial experts has specific expertise on business valuation and financial modellingto assess and model the assets of the respective partners.
“Monitor Deloitte not only has the talent and experience to deliver on open innovation projects, but they also had a very strong network in our industry. It was very important to us that we could have a conversation at the right level within the third-party organisation.”
Ludo Lauwers, senior vice-president Janssen Pharmaceutica