Collaborative Innovation- Fast growing area for developing new products and processes.
Updated: Nov 15
Collaborative Innovation with key suppliers and/or with technical partners or consortia can be harnessed for the following innovative activities:
creating new products or services
finding novel ways to eliminate cost and waste, improve sustainability, whether from products, supply chains, or manufacturing operations
sharing data to build new types of customer offerings.
Why innovate through an external collaboration as opposed to wholly in-house activity?
Externally sourced innovations are commercialised 40% faster than home-grown ideas.
Between 55-65% of enterprise innovation is typically sourced externally
196% net income growth of companies that regularly innovate with suppliers vs companies that don’t at all.
Innovation through collaboration has had huge growth over recent decades. Collaboration can be across a wide range of sectors from finance/investment, pre-clinical R&D, clinical trials, manufacture, drug delivery & formulation, operations and process design,packaging and logistics. CDMO's are taking on the role of a co-developer or collaborator in projects rising above the traditional supplier position and role.
Managing successfully the innovation process in relation to external parties underpins the advantages of collaborating in the first place. To realise the benefits of sharing and co-operating one must have a strong process to share information and have the right structures in place to satisfy both internal management but also for a future regulatory oversight once a project advances. We can help you from partner selection through qualification, document exchange and management through to project and tasks management. Identifying and monitoring risk in a partnership is included in all our software applications. If you would like a demo of our applications please get in contact through the email address below.
For a look at our collaborative platform go to www.thepartnersplatform.com
or for more information contact me at email@example.com