Open Innovation: Nothing Ventured, Nothing Gained

For many enterprises, an effective innovation management is an essential part of their sustainable corporate strategy. Without a doubt, creating product, process and business model innovations is necessary to survive the dynamic competition of the 21st century. Opinions differ regarding the question which modality is best to attain this goal. A universally valid model to increase innovation dynamics does not exist. However, the conventional approaches of the last few decades have something in common: They seem to reach its limits in the sense of Industry 4.0 and radical market changes. The use of corporate venture capital can enable corporations to not only react to the change, but also to shape it proactively.