The paradigm of closed innovation says that successful innovation requires control. Companies created their own research and development (R&D) departments to be able to control the whole new product development (NPD) cycle inside the company.
Now the paradigm has changed- Innovation has shifted from being closed to being open. Open Innovation is a term promoted by Henry Chesbrough, a professor and executive director at the Center for Open Innovation at UC Berkeley, in his book Open Innovation: The new imperative for creating and profiting from technology. “Open innovation is a paradigm that assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as the firms look to advance their technology”
