20081126 opinno 22@_breakfast_v1_pml

Internationalization strategies in the current economic scenario.
Open Innovation alternatives for technology intensive companies
Pedro Moneo, CEO
Barcelona, November 26th, 2008
Spain Calle Plátano 14, 28029 – Madrid
USA 1835 Vallejo St. #105 – San Francisco, CA 94123
pedro.moneo@opinno.com
www.opinno.com
pedro.moneo@opinno.com · www.opinno.com 1

The speaker
Pedro Moneo, CEO

Pedro Moneo is currently:

• Founder and CEO of Opinno, Open Innovation
• CEO of the technology magazine Technology Review from MIT in Spain and Latin America
• Strategic Advisor to Fedit, Spanish Network of Research and Technology Centers

In the past, Pedro has been:

• Corporate Strategy Director at Fedit
• Strategy and corporate finance consultant at Accenture
• Researcher at Argonne National Laboratory in Illinois, USA
• M.Sc. graduate in Nuclear Engineering from the French Atomic Energy Commission
• M.Sc. & Bachelors graduate in Mechanical & Energy Engineering from the
Polytechnic University of Madrid


Agenda

1. Context
2. Opinno
3. Some advice
4. Opinno Corporate Presentation
5. Appendix 1. Analysis of the current economic situation
6. Appendix 2. Open Innovation additional information


Context
New world economic landscape

The profile of global economy is changing. The supremacy of the triad US - Europe - Japan
is diluting. Emerging markets are creating a much more diverse landscape of powerful
economies
• Today, the developing world represents 49% of the world GDP, whereas in 1990 it used to be
only 39%

This new landscape, characterized by multiple centers of prosperity and economic power
is commonly referred as multi-polar world


Context
The poles of the multi-polar world

The role of countries and regions is no longer as important as the role of innovation nodes

Challenges for companies
Which poles do you need to be at?
How will you land and grow in those poles?
How will you take advantage of the opportunities arising from that specific pole?
How can you manage a multi-polar company? What can I do from home, what should
I do outside?

Challenges for governments
You need to be the best in class in something. And the class is the world
You need to specialize, taking into account your current situation and market trends
You need to become a magnet, attract and breed the top performers
You need to gain visibility and to interact with the most important poles


Context
The new meaning of internationalization

Internationalization of business activities has become a much more complex. Exporting is
not enough anymore

Today, internationalization is a global management attitude, and a two way road for
sourcing and exchange of:

1. Talent and knowledge
2. Competitive, market and customer intelligence
3. Resources
4. Capital (public and private, from investors, VCs, banks, consumers)
5. New consumers
6. Geo-political advantages


Context
Hard times and great opportunities ahead

2008 is the beginning of a new era. A time to learn from the past, and to quickly readapt
to get over the dangerous threats and take advantage of enormous market opportunities
1973 1987 2001 2008


Context
Globalization spreads to finance
The progress, sophistication and diversification of technology that happened in the 90’s
has spread to the world of finance

1. Low interest rates
2. Growth in securitizations
3. Leverage on those products

Three major problems have arisen:

1. Equity value not asset driven. Risk ratings are not sophisticated enough
2. Very high growth expectations. Appearance of intermediaries, inefficiencies
3. The flexibility of the financial market has pushed the consumer market, made
prices go higher and deteriorated savings rates

The current economic context will push us to GET REAL OR GO HOME

Context
Financial realities and challenges
The current scenario, will impose a series of new realities:

• $15m raise @ $100m post valuation is gone
• Series a will move towards series b. Series b/c will be smaller raises
• Customer uptake will be slower
• Cuts are a must
• Need to become cash flow positive. Business plans need to be credible and show
profit

Also, this situation will introduce a series of increased challenges:

• M&As will decrease
• Prices will decrease. Valuations will be lower
• Acquiring entities will favor profitable companies
• IPOs will continue to decrease and will take longer

Context
A New Knowledge Based Economy

Technological progress has produced important changes in the economic model. Most
developed countries, and now many emerging economies traditionally living in a
productivity based economy have already or will need to shift to a knowledge based
economic model
Nat. Resources based economy Productivity based economy Knowledge based economy
1. Quantity, quality and accessibility 1. Production costs – cost based 1. Innovation based product
to natural resources (NR) product differentiation differentiation

2. Low value added transformation 2. Repeatability, mass production, 2. High risk and high value added product
of NR long series, production capacity
3. Human resource and Intellectual
3. High profitability, low operational 3. Low man-hour costs capital as key competitive assets.
costs
4. Subject to aggressive and 4. International intelligence as a key tool
4. Limited exploitation time unsustainable global competition to identify opportunities, sources of HR,
to define strategies to attract, fix and
5. Difficulty to train high qualified 5. Automation increases productivity combine intellectual capacities
personnel and to adapt but produces unemployment
professionals to emerging sectors 5. Constant pressure on R&D intensity.

6. Strong investments on high technology
infrastructures

7. Multilocalization

Context
Open Innovation as a must

Open Innovation is quickly growing as the most suitable strategy to take advantage of
the new opportunities and overcome market threats

1. Talent and therefore ideas flow from one company to another in shorter times
2. Market cycles are shorter. Technologies become obsolete sooner
3. Knowledge intensity and therefore R&D intensity are increasingly important
4. Technical difficulties are too big to be faced all at the same time by a single
company
5. Lower barriers to entry make competition very aggressive


Context
Open Innovation

Open Innovation means that valuable ideas can come from inside or outside the
company (industry) and can go to market from inside or outside the company (industry)
as well
Other firm´s
market

Licence, spin Our new
out, divest market

Internal
technology base

Internal/external Our current
venture handling market
External technology
insourcing
External technology base
Henry Chesbrough, 2004

Context
The Challenge

The challenge is to PLAY GLOBAL, PLAY REAL, PLAY OPEN and PLAY IN MULTIPLE
DIMENSIONS

1 3

2 4 1. Talent and knowledge
2. Competitive, market and customer
intelligence
3. Resources
4. Capital (public and private, from
investors, VCs, banks, consumers)
5. New consumers
6. Geo-political advantages

Agenda

1. Context
2. Opinno
3. Some advice


Opinno
Who are we

Opinno is an open innovation network. We help technology intensive companies adopt
an open innovation strategy and we help entrepreneurs bring their ideas to the market,
mainly by bringing high tech startups from the lab to series A venture capital funding.

Opinno has 5 business lines:

1. Corporate Innovation Strategy
2. Business Acceleration
3. Technology Review
4. Opinno Business Plan Competition
5. Entrepreneurs and Investors Club


Opinno
How we play global

Opinno is connected to the main innovation poles through a two way road

We have physical presence in San Francisco, Madrid and Buenos Aires
Through our alliance with MIT Technology Review, we have collaborating antennae in
Boston, Munich, Paris, Rome, Bangalore and Shanghai


Opinno
How we play real

In times of crisis, it makes sense to try and get extra revenues from your IP, by
commercializing it in different ways, and also to reduce costs and time-to-market

technology IP house,
Investor, VC,
intensive consultant,
Angel Netw.
company entrepreneur

Intelligence Opinno

Business
acceleration

Opinno plays real by sharing risk with entrepreneurs. We are not consultants. We are
co-entrepreneurs

Opinno
How we play open

We play open by:

1. Working with clients specialized in different sectors and technologies
2. Sketching opportunities to maximize ROI on IP
3. Exchanging market insight and information with other Technology Review poles
4. Performing hands-on validation results, by interacting directly with potential
clients and investors
5. A business plan competition that links us to many R&D Centers in Spain and to
the top 50 business plan competitions in the world
6. An open entrepreneurs and investors club that holds informal meetings,
presentations and other social activities
7. An open and social platform for our entrepreneurs, and open tools like blogs,
mailing lists, document repositories and chatting applications


Context
How we play multidimensional

We play multidimensional by:

1. Direct access to talent from our business plan competition and its social platform
2. Direct contact with all agents in the value chain through
www.technologyreview.com , www.younodle.com and www.opinno.com
3. Market insight and intelligence through our local offices and contact points


Agenda

1. Context
2. Opinno
3. Some advice


Strategic advice for technology companies
Readapt or die

The economic cycle shift has been dramatic. Changes in cash burn rate intensive
companies have to be agile in applying cost cuts or risk entering death spiral
Death spiral: Slow demand creates less revenue. Less revenue imposes need for cost reduction or
innovation. Both take time to reflect on price, which causes demand to slow more, putting company at risk


Manage what you can control

Reflect the market growth assumptions in your strategic planning by managing what
you can control:

Impact on financial planning: Impact on Operations Strategy:
Spending Engineering: decrease headcount for next version?
Growth assumptions Product: what features are absolutely essential?
Earnings assumptions Marketing: measuring & cutting what’s not working?
Focus on quality Sales & bus dev: getting return on expense increase?
Lower risk Pipeline: real probabilities of closing deals?
Reduce debt Finance & cash burn: where can payments be deferred?
G&A: what departments are essential?


Open Innovation in the current economic scenario

Technology intensive companies should OPEN UP and try to make their IP a revenue
source rather than a cost center. This will provide them with higher and more stable
financing and also a better business model to seek and deploy new technologies

1. Identify New Growth Opportunities
2. Define & Implement New Innovation
Strategies
3. Generate & Deliver Better Ideas
4. Renew Organizational Capabilities


Focus on business model

A Business model approach can lead to interesting strategies in the current situation:

1. Recycle knowledge and products with more creative business models
2. Adapt the business model to a “crisis situation”. Spain has been selling high
tech in this low profile for a long time!
3. Consulting is dead. Focus on delivering tangible and measurable results
4. Include the Open Innovation pros and cons in your business model and b. plan
5. Reach out for the new customers globalization is bringing
6. Rethink your commercial strategy. We no longer sell products, we sell
experiences. We no longer sell to clients, we sell to couples:
Client + Situation = Experience


Adopt a complete technology transfer strategy

Companies should draw a strategy to optimize the strategic use of R&D&I outputs. All
channels of technology transfer make sense and can be combined appropriately

1. Communicate
2. Teach and train
3. Perform R&D Vertical integration in
Technology Transfer
4. Patent and license produces higher
5. Create and manage Joint Ventures returns but rapidly
increases complexity
6. Create and manage spin-offs

You don’t need to do everything yourself, especially if you are a newcomer!


Perform ROI calculations

Performing ROI calculations can help companies improve all steps in the R&D and
technology transfer value chains:

1. To talk to clients -> make R&D&I tangible. Talk in terms of profitability and risk
2. Talk to investors (public or private) -> defend your budget and complement
your business plan. Make a solid budget proposal to the company’s Corporate
center
3. Focus your R&D on customer needs and on market impact -> improve the
market orientation and market insight capabilities of your R&D team
4. To measure your results -> strategic planning. Close the innovation cycle
5. Valuate your IP. Put a market price to your R&D work


Promises versus reality

When launching a spin-off, companies should take into account that investors will seek
tangible investment opportunities. VC markets will tighten. This means less players,
more difficulty to get funded, less intermediates and tangible investments


Summary of best practices
This is a summary of best practices that companies in Spain can apply to themselves
1. Build a talent driven organization
2. Collaborate among technology companies and also with external agents
3. Intelligence: Develop intelligence. Perform situation analysis and ROI calculations
4. Management: Adapt quickly, reflect market imperatives in planning. Create alliances.
Concentrate on high value added segments of the value chain
5. Finance: Use a zero-based budgeting approach. Spend every dollar as if it were your
last. Make cuts. Review salaries. Bolster balance sheets . Become cash flow positive
as soon as possible . Lower risk. Reduce debt.
6. Market approach: Establish solid revenue model. Study your client and its ability to
pay.
7. Technology Transfer: Optimize Open Innovation channels for tech. transfer inwards
and outwards. Start with a solid business plan, even before R&D occurs.
8. Sales: Employ a heavily commissioned sales structure.
GET REAL OR GO HOME!!


Agenda

1. Context
2. Opinno
3. Some advice


Opinno
Who are we

Opinno is an open innovation network. We help technology intensive companies adopt
an open innovation strategy and we help entrepreneurs bring their ideas to the market,
mainly by bringing high tech startups from the lab to series A venture capital funding.

Opinno has 5 business lines:

1. Corporate Innovation Strategy
2. Business Acceleration
3. Technology Review
4. Opinno Business Plan Competition
5. Entrepreneurs and Investors Club


Opinno
Corporate Innovation Strategy

Opinno is an innovation booster and a high-tech business accelerator. We work with
technologies from the labs and optimize time-to-market and success ratio.
• Opinno interacts with their customers as an outsourced department of open innovation. We
establish long-term relationships to allow for business oriented planning of R&D. This implies:
• Variable vs. fixed cost structure & immediate results: As a subcontractor, collaboration can start, stop and
resize anytime. No learning period, Opinno delivers results from day 1.
• Broad sector and technology insight: Multiple applications for one technology. Competitor view.

• Our work with corporate clients is structured in three phases:
1. Protected by a confidentiality contract, Opinno and the client build a catalog of the client’s intellectual
capital (IC) (R&D projects, patents, spin-offs, joint ventures, etc).
2. Opinno and the client then map a strategy for the monetization of the IC, ranging from the patenting and
licensing strategy to inorganic venture capital growth and internationalization.
3. For the top 20% projects, Opinno launches a one-on-one hands-on acceleration, meaning that every
project is managed from the door of the lab till it gets VC funding, gets licensed or sold.


Opinno
Business Acceleration

Business Acceleration is the core business of Opinno. This service is applicable to
startups that have received seed funding (300k€ or more) and that are seeking strong
venture capital funding and multinational disruptive growth. Acceleration occurs in four
steps:
1. Project validation and project back up: Opinno will work closely with the entrepreneurs to examine and
improve their business model and business plan, adapting them to the US VC culture. We will also prepare
proposals for back up public funds from ICEX, Neotec and Enisa or others if applicable (local government
grants, some angel funding if needed). We will create support materials, as a video pitch, corporate web site
or corporate image if necessary (logos, etc)

2. Project landing: Opinno will incorporate the company in the US, open virtual headquarters, and open bank
accounts in the US. If necessary, we will start the paperwork for US investor visa. We will then concentrate
on protecting IP with our allied attorneys, specialist in that particular technology. Simultaneously, we will
perform a “hands on validation”, meaning that we will validate the technology, business model and market
with local potential clients, venture capital firms and entrepreneurs. Last, Opinno will interview a series of
professionals to provide around 10 candidates for the position of EIR, or Entrepreneur in Residence. An EIR
is a professional that has wide experience in that technology area and that, as an entrepreneur, has
participated in the launch of similar ventures in the recent past. This person is normally familiar with
potential VCs, clients, partners, will become the CEO of the company and will bring along other important
team members in the future.

Opinno
Business Acceleration

Once completed the first two steps, the company is officially operating and actively
looking for funding, clients, partners and team members:

Phase 2 ends with a one week visit of the original team to Silicon Valley. This week will be an important
milestone where the team will interview and select the final EIR candidate, and visit several venture capital firms
and potential clients.

3. Project launch: The incorporation of the EIR will represent the official US project launch. The EIR will be the
“eyes and ears” of the local team in the US and will work closely with them to create and improve the
“business pitch” of the company to VCs and clients. EIR will work for a period of 4-7 months average to get
the company funded and will then become its formal CEO.

4. Project funding and growth: The CEO will lead the company from now on and Opinno will cease its services
(and service fees) on the date the funding occurs. Opinno’s compensation for services includes an upside in
the companies equity, Opinno will continue close to its clients and will provide assessment on the
management of the company free of charge and at its own interest.


Opinno
Technology Review

Technology Review and Technologyreview.com are published by Technology Review
Inc., an independent media company owned by the Massachusetts Institute of
Technology (MIT). The oldest technology magazine in the world (est. 1899), Technology
Review aims to promote the understanding of emerging technologies and to analyze
their commercial, social, and political impacts.

Our insight into innovation assists technology and business leaders -- CXOs, entrepreneurs,
researchers, venture capitalists, and financiers -- as they drive the global economy. With
international editions in Spain, China, Italy, and Germany, Technology Review reaches more
than two million industry and R&D leaders around the world through its print magazine,
website, newsletters, and live events.

Opinno is the partner of MIT Technology Review en Spain and Latin America.


Opinno
Technology Review


Opinno
Business Plan Competition

Opinno holds an annual business plan competition. Our competition is fueled by
projects from universities, public and private research institutions, companies and
independent entrepreneurs and has a national coverage.
• The competition consists of two phases and has a prize of €100,000 for the winner, plus 50k€
and 25k€ prizes for those who finish second and third.
• Projects that make it to the final round are automatically qualified for participation in the
world’s top 50 Business Plan Competitions, out of which Opinno BPC is the only
representative from Spain. This is done through Opinno’s alliance with Younoodle (San
Francisco B. Plan management social network)
• Our B. Plan competition features an outstanding team of judges and tutors, strong alliances
with the best schools and labs in the country and a methodology that includes video
pitching, business model building and a cutting edge technology to manage the whole
competition


Opinno
Entrepreneurs and Investors Club

Opinno also runs an entrepreneurs and investors club. This initiative allows us to create
and breed a community of outstanding people that will be a source of interesting ideas
and business projects. We divide our activities in the group in two categories:
Social activities:
• Technology Wednesdays: Opinno regularly organizes talks and activities with outstanding
characters that happen to visit us. We spread the word of our activities through our social
community, our website and through our facebook group.
• Entrepreneurial Fellows: Opinno encourages experienced entrepreneurs to look for young talent
and provide their financial support and expertise under a philanthropic perspective. We have a
social network of young and experienced entrepreneurs that we help to match.
Business activities:
• Opinno Investment Club: Ideas are presented to a panel of private investors, who pay a monthly
fee and commit to a code of conduct. The presentation of ideas is done in regular meetings where
the Opinno team presents the latest opportunities and also through entrepreneur pitches that
happen during these meetings.


Opinno
Spillovers from being a client of Opinno

Becoming a client of Opinno implies receiving spillovers from all business lines and
joining a powerful network that will add incredible value to the company and its team
• Technology Review and Web Opinno visibility: Opinno owns the version in Spanish of MIT’s Technology
Review. This allows us to generate content about Spanish companies to be published in Spanish or even
pushed to the global versions. We can also leverage important contacts in the industry, and also with
investors, clients, and entrepreneurs, specially if they are related to the MIT.
• Product prescription: Opinno only works with breakthrough technology and outstanding teams. Therefore if
we work with you, we will believe in your product and will become your best prescriptors in the industry.
• Contests and awards: Opinno is networked with many innovation contests and awards world wide and is
always proud to encourage its clients to pursue these objectives, with enormous brand building capability.
• Opinno community of entrepreneurs: Clients are automatically members of our community of entrepreneurs,
which means tremendous networking opportunities.
• Conferences, workshops and press: Opinno is a regular speaker at conferences and workshops in Spain and
also in the US. We also organize this kind of event with our clients, sponsors (government, VC firms, private
companies and individuals). Opinno showcases his clients at conferences and networks them by allowing them
to participate in events. Opinno is a very active communicator and produces fresh innovation news that are
very attractive to the press. We usually showcase our clients in press articles.


Agenda

1. Context
2. Opinno
3. Some advice


Appendix
2008, the beginning of a new bear market?

The Financial crisis of 2007–2008‎has all the traits of the start of new global bear market
A bull market tends to be associated with
increasing investor confidence, motivating
investors to buy in anticipation of future price
increases and future capital gains. In describing
financial market behavior, the largest group of
market participants is often referred to,
metaphorically, as a herd.

A bear market is described as being accompanied
by widespread pessimism. Investors anticipating
further losses are often motivated to sell, with
negative sentiment feeding on itself in a vicious
circle. The most famous bear market in history was
preceded by the Wall Street Crash of 1929 and
lasted from 1930 to 1932, marking the start of the
Great Depression. A milder, low-level, long-term
bear market occurred from about 1973 to 1982,
encompassing the stagflation of U.S. economy, the
1970s energy crisis, and the high unemployment of
the early 1980s.

Appendix
Consumer ability to spend has grown significantly

Increases in workforce and productivity, plus attractive financial products …
… have fueled a nation of
consumers


Appendix
Debt and foreign ownership of treasuries

Local consumers buy fundamentally foreign goods and foreign companies buy local
treasuries … as a result, debt balloons and foreign share on treasuries follows

U.S. treasuries being easily injected in
international financial markets through a
huge amount of new financial securities


Appendix
Consumer capability increases with liquidity on housing

Liquidity easing spread to housing, causing unprecedented increases in house pricing …

The new financial products took the place and risk of personal funds in these
transactions


Appendix

.. putting pressure on property owners. Personal savings rate evaporated, at the time
that real wages strongly eroded per consumption expenditure


Appendix
In the United States, during the dramatic rise in house prices MEW funded PCE 1.1 to
1.7% from 1991 to 2000, and almost 3% from 2000 to 2005. 2006 was the first symptom
of stagnation
The rate of MEW has been linked to Marginal propensity to consume (MPC), as measured by Personal
Consumption Expenditure (PCE).

Mortgage equity withdrawal (MEW) is the decision of consumers to borrow money against the real value of their houses. The
real value is the current value of the property less any accumulated liabilities (mortgages, loans, etc.) Some authors also use
equity extraction and include net payments received at time of house sale.[1] In this case the traditional usage of equity
pedro.moneo@opinno.comofwww.opinno.com
extraction is the purchase · a new house. 45

Appendix
Derivatives take cover value and risk of the new transactions

First the landlord owned the house. Now it’s the bank that owns it. The ability of the
banks has been to turn access to high leverage and cheap credit into higher housing
prices… but again, this separates the value of credit (passive) from the value of assets


Appendix
A booming future based new portfolio of financial products

The booming of a new portfolio of sophisticated financial products was not limited to
the housing sector and helped feed the global funding demand


Appendix
Structured products and regulatory changes compound these issues

A booming financial and market causes the appearance of intermediaries, a subsequent
valuation increase and no direct access to the measure of risk and real value. Structured
products and regulatory changes compound these issues.

• Growth in securitizations
• Leverage on those structures
• Increased leverage on bank’s balance sheets
• Often miss-rated by agencies
• Repeal of Glass-Steagall
• Regulatory changes encouraging home ownership

The Glass-Steagall Act of 1933 established the Federal Deposit Insurance Corporation (FDIC) in the United States and included
banking reforms, some of which were designed to control speculation. Some provisions such as Regulation Q, which allowed the
Federal Reserve to regulate interest rates in savings accounts, were repealed by the Depository Institutions Deregulation and
Monetary Control Act of 1980. Provisions that prohibit a bank holding company from owning other financial companies were
repealed on November 12, 1999, by the Gramm-Leach-Bliley Act,


Appendix
From virtuous to vicious cycle

The stagnation of consumer spending capacity forced an abrupt mortgage reset, which
acted as an initiator of a chain of events that may lead to a severe recession


Appendix
Symptoms of recession

Symptoms of a recession can already be noticed in different indicators


Appendix
Problems related to the recession

There are multiple problems related to the recession process explained before

• Housing led recession, generalized, affecting the end consumer on most tangible
asset
• Over leveraged financials, forcing long time lags until market readjusts
• Falling asset prices due to readjustment worsen asset coverage over debt
• Frozen credit markets paralyze new investments
• Weak household balance sheet
• Globally synchronized slowing exacerbating all of above and causing a significant
risk to gdp growth

The cause of this recession can be summarized as “Credit not equity or asset driven”
and the main characteristic is that it is “globally synchronized”


Appendix
High tech markets are correlated to the progress of national economy and also suffering
an important deceleration


Appendix
This effect can be observed on PC and mobile handset sales, as well as on the progress
of retail and advertisement


Appendix
Similarities with 2001 .com burst

Impact on the high tech industry will be similar to 2001, with a longer recovery time,
due to the already achieved competitiveness of the industry, and to the degree of
impact and volume of the current crisis


Appendix
Conclusions

The current scenario, will impose a series of new realities:

• $15m raise @ $100m post valuation is gone
• Series b/c will be smaller raises
• Customer uptake will be slower
• Cuts are a must
• Need to become cash flow positive

Also, this situation will introduce a series of increased challenges:

• M&As will decrease
• Prices will decrease. Valuations will be lower
• Acquiring entities will favor profitable companies
• IPOs will continue to decrease and will take longer


Agenda

1. Context
2. Opinno
3. Some advice


Context
Open Innovation vs. Closed Innovation

Open Innovation allows for a full market orientation on all steps of the value chain


Context
Summary of best practices

Open Innovation can and must occur in all phases of product development


Context
The logic of Open Innovation

It is key to understand a few facts about Open Innovation


Context
Open Innovation and globalization

This new model implies that, in the end, things will be done where they are done best!

1. On an average, about 15% to 20% of strategic 1. You can derive value from your R&D only if
(blue-sky) R&D sees the light of day…the rest you execute them - put them to use;
wither away on the shelf over time. (The commercialize them; and bring them to
Aberdeen Group, Boston) market
2. Of all the applied R&D done under contract 2. The value of your contract research can be
worldwide, almost all of them are underutilized exploited exponentially by making them
by a vast percentage. (rdmag.com / Battelle) available for other commercial uses
3. All tasks around the globe will move where 3. While innovation must be done where it is
they are done the best…and the smartest. done the best, it must be commercialized
(Prof. Michael Treacy, MIT…restated) where it can be done so most effectively
4. Over 70% of startup businesses that fail, do so 4. World class startups must be smartly and
not because they were bad ideas, but because adequately funded and lead by experienced
of lack of smart capital, lack of strategy & entrepreneurs with domain expertise,
improper execution. (Startup 101) experience, and best practices


Context
Product vs. Business model Innovation

Business model based innovation starts and finishes on market approach. It shifts the
organization towards the customer and its current and future needs


Context
Best practices in Open Innovation

Open Innovation allows us to identify the best in class in the different stages of
innovation, learn from their practices, but also use them as partners in our innovation
cycle

Portfolio
Operational
Capabilities

Open Dynamic
Capabilities Capabilities

Technology
Capabilities


Opinno, Open Innovation
Spain Calle Plátano 14, 28029 – Madrid
USA 1835 Vallejo St. #105 – San Francisco, CA 94123
info@opinno.com
www.opinno.com


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