Open Innovation Strategies Research Articles

An Analysis of Critical Factors Affecting the Success of Open Innovation Strategies in High-Tech Firms: The Case of South Korea

High-tech firms face constant innovation and challenges due to a rapidly changing tech environment. Open innovation strategies are an important solution for fostering rapid and efficient innovation by leveraging external capabilities. This study explores the critical factors that influence open innovation strategies in high-tech companies, assessing their importance and providing key insights for promoting these strategies. Through a comprehensive literature review and expert interviews, 16 key factors impacting open innovation were identified. A hierarchical research model was developed using the ser-M (subject, environment, resource, mechanism) framework, focusing on subject, environment, resource, and mechanism for a corporate strategy analysis. A survey and an AHP analysis were conducted with 30 participants, comprising engineers and open innovation experts, all with over a decade of experience in the field within Korean high-tech companies. The analysis focused on four critical elements: subject, environment, resource, and mechanism; subject emerged as the most critical factor for successfully implementing open innovation strategies. Specifically, the will of chief executives, the direction of decision-making, and technological environment changes were found to be significant contributors. The consensus between engineers and experts confirms that while environmental and resource factors are vital, strong leadership and effective decision-making are paramount for successful open innovation in high-tech companies.

Accelerating corporate innovation ecosystems: The exprivia business incubator case study

Large enterprises and start-ups collaborate to adopt Open Innovation (OI) strategies and to develop digital technologies. In this setting, Business Incubators (BI), which connect large firms and startups, are now vital to the Corporate Open Innovation Ecosystem (COIE). A single case study method was adopted for the multinational company Exprivia, operating in the ICT sector. The results show how Exprivia created a COIE through an innovative BI pilot project to operationalize OI and promote knowledge collaboration between companies, universities, and start-ups. Strategic implications for large organizations involves defining OI strategies based on Corporate BIs to sustain growth and profitability.

Unpacking innovation in digital multi-sided platform startups: making sense of path creation in generating two distinct types of innovation

Purpose This study aims to investigate the role of effectual logic as the basis of entrepreneurial action in path creation for influencing the performance of open innovation outcomes within the context of digital multi-sided platform (MSP) startups. Design/methodology/approach We utilize the PLS-SEM method with a sample of 70 Indonesian digital MSP startups that have implemented open innovation practices. Findings The empirical findings indicate a path creation between effectual logic and the open innovation process, particularly through the integration of absorptive capacity and crowds or communities management practices. Absorptive capacity development fosters incremental innovation, whereas crowds or communities management practices lead to radical innovation. Originality/value The research findings suggest that, despite limited resources and experience, young entrepreneurs can successfully implement an open innovation strategy for their digital MSP platforms by utilizing effectual logic principles, which capitalize on the external resources provided by digital platform ecosystem members.

What “V” of the big data influence SMEs' open innovation breadth and depth? An empirical analysis

The open innovation (OI) paradigm has garnered relevant attention in recent years. Against this backdrop, this study explores the impact of a relatively recent phenomenon, such as Big Data, in terms of Volume, Velocity, and Variety, on small and medium enterprises' (SMEs') OI search. In fact, while issues related to Big Data have been often examined in the context of high‐tech firms, the effects on SMEs' OI search strategies have not been extensively studied. This paper addresses this gap by developing a quantitative analysis on a sample of 123 Italian SMEs. The findings reveal that Big Data significantly influences SMEs' OI breadth, leading to increased external collaborations. In parallel, they do not affect SMEs' OI depth. Moreover, the impact varies among the different “3Vs” of Big Data, suggesting that some characteristics have a more pronounced effect on SMEs' OI strategies. Drawing on these insights, this study contributes to the understanding of the interplay between Big Data characteristics and SMEs' OI, offering hopefully valuable implications for both OI and Big Data literature and proposing avenues for further research and practice.

Implications of Competitive Advantage Strategies in the Buying and Selling Used Iron

This study aims to analyze and identify the competitive structure that forms the key success factors (KSFs) in the scrap metal trading industry, with open innovation as a mediating factor and its effect on competitive advantage. The research employs an explanatory method to explore the causal relationships between variables. Data were collected through questionnaires, direct interviews with business owners, managers, employees, and consumers in the scrap metal trading sector, as well as secondary sources such as articles, journals, online databases, libraries, and government agencies like the Ministry of Trade (Deperindag) and the Central Bureau of Statistics (BPS). The data collection techniques include literature review, interviews, and observations. Analytical methods employed in this study include descriptive analysis through company profiling, Porter's Five Forces model for industry competition analysis, and an assessment of open innovation as a mediating factor for competitive advantage. The findings reveal that key success factors contributing to competitive advantage in the scrap metal trading industry are economies of scale, marketing capabilities, access to capital, raw material supply, and technology utilization. The application of Porter's Five Forces, when mediated by open innovation, strengthens the relationship between open innovation and organizational strategy, ultimately leading to sustainable competitive advantage. Competitive advantage is enhanced by increased open innovation, which fosters organizational collaboration, adaptability, and the development of novel strategies. Through the implementation of open innovation, scrap metal trading companies can leverage diverse ideas and resources, enhancing competitiveness in dynamic market environments. Conclusion: The threat of new entrants in the scrap metal trading industry is low, while the bargaining power of suppliers and buyers is strong. The threat from substitute products is weak, and the rivalry among existing competitors is intense. Open innovation contributes to competitive advantage by promoting collaboration, encouraging adaptability, and supporting strategic innovation.

Foresight study using scenarios and the Delphi method in the leather agroindustrial chain to 2035 - Alignment of results with open innovation

ObjectiveThe objective of this article is to prioritize technologies, innovations, and new businesses related to the leather agroindustrial chain in the department of Quindío (Colombia) for the year 2035. MethodThe prospective scenario and Delphi methods were used to prioritize key variables, technologies, actors, innovations, objectives, and scenarios in the leather agroindustry. As a previous phase, the Scopus database was used with the critical factors of leather, tanning, tanneries, tannery, leather transformation, cowhide, and suede, and the results were used as input for structured, anonymous and reiterative consultations with national and international experts on topics related to the chain and with a time horizon of 2035. The questionnaire was posed by groupings, including product and by-product innovation, sustainability, technology, and genetics, and, for the first round of the Delphi method, was sent to more than 70 national and industry experts/stakeholders, representatives of universities, the public and private sectors, and organizations related to the chain. FindingsAfter conducting a bibliometric analysis, key terms related to the leather sector were visualized and a validation was made for MICMAC methods, with 44 variables found; with topics ranging from raw materials to current regulations. For the MACTOR method, future objectives were determined for clean technologies, the creation of new product development, and an R&D&I Center for productive transformation. Meanwhile, for the Delphi method, 44 technologies and innovations were prioritized through rounds with complementary analysis using Python and natural language processing. ConclusionsTopics such as vegan leather made, from mushrooms; bio-leather or leather made, from mango peel; nanofibers, nanocomposites, biogas production, nanofiltration, 4D Printing, Artificial Intelligence to improve leather quality; augmented reality to improve customer experience; genetic improvement of animals to improve leather quality, among others, in which innovation challenges and open innovation strategies can be generated, as well as in R&D&I projects, were identified.

Innovation management model for functional food ingredients and additives. Alignment with hype cycle, Python S-curves, and open innovation variables

ObjectiveThe objective of this article is to generate an innovation management model for organizations in the functional food ingredients and additives sector, based on prioritization of variables, stakeholder consultation, technology surveillance, HypeCycle for emerging technologies and S-curves. Method and analysisA literature review was conducted on innovation management models and associated articles were selected from which the relevant variables. Three surveys were used; one for the statistical analysis of 97 initial variables, prioritizing a total of 32 variables that were the input for survey II; survey III validated a graphical conceptual model of innovation management; the HypeCycle and S-curves Were used to analyze the emergence component as input for open innovation strategies. three possible innovation management models for the sector were validated by stakeholders of an organization in the sector, from a statistical point of view, mode, modal frequency and consensus percentages were used in the 3 surveys and non-linear regression models, T value, P value and Durwin Watson in the calculations of S curves. FindingsFrom the literature review, 97 variables were identified, prioritizing 32 of them by stakeholders in survey one. Excellent, good, average and poor states were generated on these variables in survey two, including analysis of relevance and congruence for each question, the Survey 3 presented three graphic concept models for prioritization, obtaining 1 MGI prioritized for the sector, in the Hypecycle methodology 13 emergency components related to nanoencapsulation were identified, in S curves 13 nonlinear regression models were applied in nanoencapsulation, mixing and drying obtaining inflection points in the years 2016 – 2020 for nanoencapsulation technology, 2020–2030 for mixing and 2033 – 2042 for drying technology. Finally, 7 open innovation platforms with previous innovation challenges in food and agribusiness were identified. ConclusionsThe MGI proposed for the sector under analysis corresponds to a structured one that facilitates the identification, development and commercialization of new ingredients and functional food additives, improving competitiveness and response to market and user demands.Furthermore, the alignment with the Hypecycle or over-expectation cycles with the proposed MGI allowed us to capture how this methodology helps manage the adoption of emerging technologies in nanoencapsulation, mixing and drying. Regarding the analysis variables, the research showed the importance of integrating these variables with external collaborations, such as collective collaboration, and with open innovation platforms, to promote the co-creation and expansion of knowledge in the food ingredients and additives industry. functional in Colombia, the complementary S-curve methodology allowed us to discover that the life cycle of the mixing and drying technology has not reached its inflection point, which constitutes an opportunity for organizations in the sector. This could be validated through of Python libraries and code to validate turning point calculations.This article is relevant to explore new alternatives for the co-development of innovation management models - MGI -, applied to specific sectors taking into account open innovation variables. The novelty of the research lies in the fact that the results obtained, aligned with the prioritization of variables, consultation with stakeholders, technological surveillance, Hypecycle and S-curves, become inputs for specific strategies and challenges of Open Innovation for ingredient and additive industries. functional foods and opportunities for R&D&i activities and projects in this sector.

Analysis of Supporting Factors for Implementing the Open Innovation Strategy at the Regional Development Planning, Research, and Innovation Agency in Southeast Sulawesi

Open Innovation is an approach that utilizes ideas, knowledge and external resources to increase innovation and organizational competitiveness. Through development and innovation at the regional level, local communities can be actively involved in the decision-making process, make real contributions, and experience the impact of development directly. This research aims to analyze the factors that support the implementation of the Open Innovation strategy at the Regional Development Planning, Research and Innovation Agency (called BAPPERIDA) in Southeast Sulawesi, Indonesia. This research was conducted in 5 cities/regencies in Southeast Sulawesi, Indonesia, namely Kendari City, North Konawe Regency, Bombana Regency, Kolaka Regency, and South Konawe Regency. Data analysis was carried out using a quantitative approach with instruments tests, namely the KMO and Bartlett's Test Anti Image Correlation, Communalities, Total Variance Explained and Rotate Image Matrix to analyze the factors that support the implementation of the open innovation strategy in BAPPERIDA cities/districts in Southeast Sulawesi. A questionnaire was distributed to 75 BAPPERIDA employees to obtain valid data regarding the implementation of the open innovation strategy. The findings of this research show that the implementation of open innovation at BAPPERIDA is supported by organizational policy factors, innovation culture, involvement of external parties, and knowledge management.

Effectuation in digital multi-sided platform startups: An entrepreneurial journey through open innovation process

A paradox arises in platform-based open innovation, wherein digital Multi-Sided Platform (MSP) firms with little initial co-creation ability can successfully adopt an open innovation strategy that typically requires a high level of co-creation capacity. This study aims to fill this gap by theoretically exploring the connection between effectuation, which involves entrepreneurial action based on a given set of means and the selection of possible effects, and the open innovation process with co-creation capacity. The objective is to contribute to the significant growth of digital MSP startups. This study investigates the process of open innovation based on platforms in the context of resource constraints, limited knowledge, and uncertainty. The outcomes of a quantitative study including 70 digital MSP startups indicate that the most efficient route for these businesses to achieve Innovation Performance is by first developing Effectuation, followed by Integrative Capabilities and Co-Creation Capacity, and last, Innovation Performance. However, in this shortest path, the involvement of Crowds or Communities Management Practices plays a role in partially moderating the relationship between Effectuation and Integrative Capabilities. Platform-based innovation serves as the point of integration between effectuation theory in entrepreneurship research and open innovation strategy in strategic management research. The bridge connecting these two fields has significant implications for research on platform-based innovation in the field of strategic entrepreneurship.

Strategising for the circular economy through servitisation

PurposeFrom a firm-centric perspective, this study aims to elaborate on the types of servitisation strategies that can support a firm’s circular ambitions by asking: What is the role of servitisation in narrowing, slowing and/or closing resource loops? And, how are resources and capabilities arranged to provide such strategic circular service offerings?Design/methodology/approachDrawing on the experiences of an international manufacturing company from a dynamic capabilities perspective, the study offers an analytical framework that goes inside the firm’s operationalisation of its service offerings to support circularity in terms of the strategic decisions made. This framework is later used to frame the findings.FindingsThe study highlights the case-specific feedback loops and capabilities needed to support circular transitions. Various resource and innovation strategies for circularity are combined along customer interfaces and in partnership with upstream actors. Yet, open innovation strategies are conditioned by physical distance to provide circular services in remote areas.Research limitations/implicationsThe main contributions are empirical, analytical, conceptual and practical. The servitisation framework for circularity connects prior servitisation-circularity research and provides an analytical tool for framing future studies. The study also expands the definition of open innovation in that closed innovations for circularity can be achieved through “open” information exchange in knowledge networks, as well as provides advice for similar large manufacturing companies.Originality/valueThis study focuses on the strategic choices made by industrial firms for circular service provision and emphasises the environmental benefits from such choices, in addition to the economic and customer benefits covered in extant servitisation research.

Інноваційні стратегії сталого розвитку підприємств в умовах мінливого ринку

The article analyzes various approaches to innovation development for enterprises operating in volatile markets. It explores critical innovation strategies, including proactive, reactive, imitative, niche, mergers and acquisitions (M&A), open innovation, incremental, and radical strategies. The proposed utilization of these strategies aims to ensure sustainable development for enterprises, considering their specific activities and market conditions. Proactive Strategies are characterized by their focus on anticipating and shaping market trends—proactive strategies position companies as market leaders by developing new products and services ahead of market demand. Analyzing technological trends and innovations is highlighted, enabling enterprises to maintain a competitive edge by staying ahead of competitors. Reactive strategies, however, adapt to changes in market and consumer demand. This approach involves responding swiftly to market shifts and competitive innovations. Imitative Strategies involve replicating or adapting innovations introduced by other companies. Niche Strategies concentrate on serving narrow market segments or specific technological niches. Companies utilizing niche strategies aim to become specialists in their chosen fields, offering unique solutions tailored to specific customer needs. This approach requires deep understanding, specialization, and expertise, allowing enterprises to command premium prices due to the distinctiveness of their products or services. This approach accelerates innovation processes by integrating external capabilities while reducing competitive pressures. However, successful implementation of M&A strategies demands meticulous planning and effective management to achieve synergy between organizations. In conclusion, the article offers a comprehensive framework for selecting and implementing innovative strategies tailored to enterprises’ specific needs and conditions in dynamic market environments. By strategically applying these approaches, enterprises can enhance their innovation capabilities, adapt to market changes effectively, and achieve sustainable development in the long term. Keywords: innovation strategies, sustainable development, dynamic market, proactive strategies, reactive strategies, imitative strategies, niche strategies, mergers and acquisitions, open innovation, incremental strategies, radical strategies, university partnerships, R&D, competitive advantage, market stability.

Open Innovation or Traditional Patenting Strategies to Efficiently Address Health Emergencies? How Patent Information Was Used Towards Effective Treatments for COVID-19.

During the 1150 days of COVID-19 pandemic there were great efforts to develop efficient treatments for the disease. After this long time, some drugs emerged as treatment for COVID-19. Some of them are new drugs, most of them, known drugs. These developments were triggered by information already available in patent documents. Pharmaceutical companies, therefore, rushed to conduct drugs evaluations and trials in order to deliver to the world a reasonable treatment that could reach the majority of its population. However, it is not immediately clear how companies operated to reach their goals. The ability of open innovation to achieve results assertively and faster than closed innovation strategies is questioned and therefore, it is questioned whether pharmaceutical companies use open innovation to face COVID-19. In this work, data available on patent databases were mined to inform about the scientific and technological panorama of selected drugs tested for COVID-19 treatment and to understand the perspectives of such developments during the pandemic. This study evidenced that most treatments were based on known drugs, that some of the initially promising drugs were abandoned during the pandemic, and that it was able to inform if open innovation and collaborations were explored strategies. This study evidenced that the developments during COVID-19 were not based on open innovation by revealing a patent race towards the treatment development, but with practically no collaborations or information exchange between companies, universities, and research facilities.

Open Innovation Strategies and Organization Performance of the Telecommunication Industry in Kenya

Purpose: The purpose of this study was to evaluate the relationship between open innovation strategies and organization performance of the telecommunication industry in Kenya. The study was guided by the following objectives: to examine the effect of innovations and innovation strategies on organizational performance; to establish the effect of open innovation strategies on organization performance; to assess the role of organization factors in moderating open innovation strategies; and to identify the open innovation strategies adopted in the telecommunication industry in Kenya. Methodology: The study relied on desktop research to address the existing gaps in the literature. Information for the research was obtained from published literature and information in the public domain. The information was critically reviewed, analyzed, synthesized, and conclusions were drawn. Findings: The findings of this study revealed that collaboration between firms in the telecommunication industry and various stakeholders through open innovation strategies influences the performance of the organizations in the industry. These findings suggest that organizations in the telecommunication industry in Kenya, which adopt open innovation strategies, can effectively innovate and compete in the industry, despite the dominant position of one organization. Unique Contribution to Theory, Practice and Policy: Utilizing the Open Innovation (OI) Theory and the Resource-Based View (RBV) Theory, the researcher explored the relationship between open innovation strategies and organization performance of the telecommunication industry in Kenya. The study deepened our understanding of RBV theory in explaining the dominance of one firm in the telecommunication industry. In addition, the study focused on how organizations are able to access talent and resources using the OI theory framework and therefore are able to innovate and compete. The various stakeholders including customers, suppliers and the Government of Kenya will benefit from this study by having additional insights into open innovation strategies and practices. A key recommendation is to the Communications Authority of Kenya, the regulatory body in the telecommunication industry in Kenya. The regulator should provide an enabling environment which facilitate innovations and collaboration using open innovation framework, benefitting all organizations and stakeholders in the industry.

Exploratory and exploitative linkages and innovative activity in the offshore renewable energy sector

PurposeThis paper examines the relationship between open innovation (measured by exploratory and exploitative linkages) and firm-level innovative activity in the offshore renewable energy (ORE) sector.Design/methodology/approachA unique, purpose-built survey that targeted firms operating in the ORE sector and its supply chain was used. The data provides novel insights into the research activities and networking capabilities of an industry in its infant stages of development. Regression models are used to estimate the relationship between firm-level external linkages and innovative activity.FindingsExploratory linkages are positively related to more innovative activity. This relationship is subject to diminishing returns, distinguishing the ORE sector from other sectors. Collaborating with suppliers and accessing scientific journals are conducive to research and development (R&D) activity and process innovation, whilst collaborating with customers is associated with the decision to introduce new products and processes.Originality/valueThis study provides evidence of a positive, but curvilinear, relationship between external knowledge linkages and innovative activity, adding novel insights into the relationship between open innovation (OI) strategies, research and innovation outcomes for firms predominantly in the introductory stages of the technological life cycle with limited commercialisation experience. The nuanced finding that specific linkages matter for certain research and innovation (R&I) outcomes adds deeper complexity to March’s (1991) framework, where tailoring certain exploratory or exploitative linkages to specific innovation activities is important.

Open innovation, overseas business income and the mediating effect of environmental, social and governance

AbstractWithin the context of the ‘go global’ strategy, for enabling enterprises to effectively form open innovation strategies to enhance overseas business income and assume environmental, social and governance (ESG) responsibilities and to explore the importance and operational mechanisms of ESG, this paper adopts a three‐step method to analyse the panel data of Chinese multinational enterprises from 2011 to 2019. The results indicate that adopting open innovation can improve overseas business income and environmental and social performance. The environment and society are two critical intermediary channels for the impact mechanisms of open innovation on overseas business income. Based on these findings, we make some recommendations for enterprises and external investors. This research also expands the current understanding of the correlation between open innovation, ESG and overseas operation activities, providing evidence on open innovation strategy for managers and verifying the vital role of ESG in enterprise operations.

Open Innovation Signals: Exploring the Financial Data with Patents

The study aims to explore how to measure firms’ open innovation from financial statements. So, our research question is as follows: How can we determine firms’ open innovation signals directly or indirectly from financial statements? This study used data from the US financial statements and patent registration database from 2016 to 2018 to answer this research question. Three manifest signals of open innovation in financial data were found. First, subsidiary or related firm investment in financial data may have a negative relationship with open innovation because open innovation (i.e., the co-application of patents) could decrease subsidiary or related firm investment. But there are differences between the top and bottom twenty firms. Second, internal R&D investment (I R&D) in financial data may have a positive relationship with open innovation because I R&D could trigger inward open innovation. If I R&D combines with an open innovation strategy, it increases the size of subsidiary or related firm investment as a kind of inward open innovation. Third, free cash flow (FCF) in financial data may have a positive relationship with open innovation because high FCF could support outward open innovation.

Exploring the Relationship between Open Innovation and Innovation Performance in Big Data Environment: The Moderating Effects of Innovation Expropriability

In the era of big data, the industry environment is complex and volatile, and enterprises need to innovate their business models by creating innovative value networks and reconstructing transaction systems to avoid being eroded in the process of global economic transformation. The traditional closed innovation processes are no longer deemed suitable for advancing firm innovation. Instead, open innovation has become a pivotal strategic choice in the quest to foster innovative developments. This study builds upon the paradox of open innovation (OI) in the age of big data, and introduces the innovation expropriability theory. Utilizing survey data from high-tech industrial park firms in the Yangtze River Delta region of China, it empirically examines the influence of open innovation on firm innovation performance (FIP). Furthermore, it explores the independent and joint moderating effects of rival absorptive capacity (RAC) and appropriability regimes (ARs). The findings reveal that OI significantly improves FIP. The effect of OI on FIP is positively moderated by ARs, while the independent moderating effect of RAC is not significant. However, a joint moderating effect is observed between RAC and ARs. Further investigation reveals that the moderating role of RAC depends on the presence of ARs, indicating a matching relationship between RAC and ARs. This research holds significant implications for firms in implementing open innovation strategies and ensuring effective intellectual property protection to enhance innovation performance in the era of big data.

The impact of explorative and exploitative collaborations on SMEs innovative performance

ABSTRACT Despite the importance of SMEs for innovation activity, questions remain concerning the determinants of their innovative performance and the role of different types of collaboration and partners. The present paper empirically analyzes the role played by different types of R&D collaborations in the persistence of SME innovative performance. We used a longitudinal database to identify all the Swedish SMEs that launched significant product innovations in the ICT market in the 1990–2019 period, in combination with collected data on the R&D collaborations established by these SMEs. Through several dynamic panel data regression models, we point out how SME innovative performance is significantly affected by R&D collaborations with large firms and universities. Crucially, we show how the impact of these collaborations differs depending on the nature of these relationships. In doing so, the present paper offers insights into the relationships between SMEs and universities, and open innovation strategies.

The impact of open innovation on the environmental sustainability practices and international sales intensity nexus: A multicountry study

Amid growing environmental concerns and increasing customer demand for environmental sustainability practices (ESP), international firms strive to develop ESP and leverage resources across their global networks as key players in global innovation systems. In this context, we investigate whether adopting an open innovation (OI) strategy is a viable solution to meet the demand for ESP and foster internationalization. Specifically, this study examines the potential moderating effect of OI on ESP because both entail the ability to coordinate, orchestrate, and synchronize networks to enhance international sales. Our study encompasses a multicountry sample of 514 internationally operating manufacturers. The findings reveal that simultaneous efforts to adopt OI with suppliers and ESP constrain the positive association between ESP and international sales intensity. We provide theoretical arguments to elucidate this counterintuitive finding, thereby revitalizing the discussion on the role of international firms’ adoption of ESP and sustainable innovation.

Talent Incentive Policy of Chinese High-tech Enterprises from the Perspective of Industrial Informatization Intervention

Priority development of education is the fundamental guarantee for the construction of high-level talent highlands. Technological self-reliance and self-improvement are strategic support for the construction of high-level talent highlands, and talent innovation guidance is the intrinsic driving force for the construction of high-level talent highlands. The construction of a high-level talent highland in the Guangdong Hong Kong Macao Greater Bay Area requires the integration of innovative elements that connect the “education chain, technology chain, and talent chain”. It is necessary to build a three-dimensional integrated spatial architecture of “education technology talent”. We need to build a community that integrates “education highland, technology highland, and talent highland”. Accelerating the construction of high-level talent highlands in the Guangdong Hong Kong Macao Greater Bay Area requires the construction of a highland for scientific and technological innovation talents, a highland for technical and skilled talents, and a highland for scientific and technological finance talents. Based on this, this article selected 399 listed high-tech enterprises in the Greater Bay Area as the research objects, and conducted multiple regression on the relevant data of sample enterprises from the perspective of property rights heterogeneity from 2018 to 2021 to reveal which open innovation model can effectively solve specific situational problems faced by enterprises. The multi role matching mechanism can effectively improve the performance of new product development and its market competitive advantage of enterprises, as well as how the nature of property rights affects the relationship between open innovation strategies and new product development performance of enterprises. The research results show that, firstly, open innovation between enterprises is beneficial for the precise improvement of product development performance by high-level talents in enterprises. Secondly, open innovation in industry, academia, and research is beneficial for improving talent performance in enterprises, but its effect is weaker than that of open innovation between enterprises. Enterprises focus more on the open innovation model between enterprises.