Abstract

One of the critical factors contributes to the success of firms, in competitive world, is innovation. Open innovation offers many benefits to enterprises as cost reduction, NPD, accelerating the production of new products and services. Open innovation produces more market knowledge and new technologies. As a result, firms do better in discovering and exploiting opportunities. This paper investigates the effect of inbound and outbound open innovation on the discovery and exploitation of entrepreneurial opportunities. Based on theoretical studies, nine indicators for inbound open innovation and six indicators for outbound open innovation were selected. Subsequently, a questionnaire was distributed among 83 SMEs in the field of IT. The results show that only a small number of inbound and outbound open innovation indicators have a positive impact on the discovery and exploitation of entrepreneurial opportunities.

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