A Practitioners Perspective on The Benefits of Open Innovation

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Timothy Eric Stroh


The common approaches to innovation deployed by many corporations are ineffective and associated with a collection of well defined risks including hype driven and biased decision making, risk aversion, and disruption. In contrast, open innovation programs reduce these same risks and deliver a variety of substantial benefits ranging from increased innovation speed, reduced costs, and increased probability of success.

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Author Biography

Timothy Eric Stroh, Royal Melbourne Institute of Technology (RMIT)

Tim has just applied to a postgraduate program at RMIT but is a successful innovator, marketer, and entrepreneur. He has lead innovation teams within large corporates and taken multiple software-as-a-service (SaaS) startups from idea through to multimillion-dollar trade sale exit. In addition to winning pitch competitions and an Ethical Investor Sustainability Award, he also has a host of less expected credits including conceiving and producing the most recognized television commercial in Slovenia in 1994, time in the U.S. Air Force, and an award-winning non-fiction book on the neurology that underpins decision processes and successful innovation.