In the following video from a recent OI conference, several experts address the current state of open innovation initiatives and the reasons behind many company’s commitment and investment in the practice.  Among the panelists is Dr. Edward Getty, currently the Global External Alliance Lead at Wm. Wrigley Jr. Company, and also one of the original co-founders of Procter & Gamble’s famed Connect+Develop program.

Dr. Getty addresses several key issues regarding Open Innovation, drawing from his extensive experience and diverse corporate background.  Some of the things he specifically discusses include:

• Is Open Innovation just “old wine in a new bottle”? [06:25]
• Why “culture eats strategy for breakfast.” [15:35]
• What to do with technologies and ideas you don’t end up using and how to still benefit from them. [21:40]
• The difference between “open innovation” and “open source” and how intellectual property needs to be managed. [31:45]