Abstract
Open innovation strategies in large firms have been changing considerably during the last 15 years. Some multinationals are now taking a long-term, strategic approach to Open innovation, thereby actively developing a regionally bounded innovation ecosystem. This approach goes beyond the tradition of open innovation, which emphasized the opening of firms’ boundaries for inbound and outbound knowledge flows. In the new approach, multinationals actively shape their innovation environment to better exploit external talent and expertise, share public infrastructure, raise funds and influence public policies - the key enablers for establishing a vibrant, world-class research and development (R&D) environment. We examine one such regionally embedded innovation ecosystem set up by Janssen Pharmaceuticals at its global R&D centre in Beerse, Belgium.We develop a conceptual framework by integrating Open innovation, Innovation Ecosystems and Regional Economics literature streams. This combination of the three distinct theoretical approaches is required to explain the benefits and working of Janssen Pharmaceuticals’ regionally embedded innovation ecosystem.
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