Speaker: Monica Masucci , University of Sussex
This paper investigates how firms can orchestrate outbound open innovation strategically to accelerate technological progress among the firms they collaborate with, thus removing technological bottlenecks in their business ecosystem. We examine how a major oil and gas producer fostered, through its internal corporate venture unit, the development of new technologies aimed at enhancing the effectiveness of the oilfield services offered by its key providers. The detailed analysis of five innovative projects suggests that a critical factor for the successful deployment of the proposed technologies was their potential to broaden service providers’ portfolios, coupled with control over the relevant intellectual property, which enabled the alignment of providers’ incentives with those of the oil major company. By revealing unexplored aspects of the interplay of inter-firm collaborations and open innovation processes, this paper extends our understanding of how firms can align the incentives of other actors in their business ecosystems by strategizing their open innovation initiatives.