Engaging millennials with Open Innovation
You can’t move these days for talk of the entrepreneurial, socially conscious millennials, whether it’s grand sweeping statements about the entire generation, or more nuanced analysis of emerging trends in how people work. Whatever your view, it’s certainly true that there is a significant rise in the number and ambition of young entrepreneurs and that this has had a real impact on organisations and the economy in general.
So this study from Accenture, carried out in conjunction with the G20 Young Entrepreneurs’ Alliance, is particularly interesting. It recommends an open innovation approach to overcome some of the downsides of current trends: for example, organisations no longer having as much access to fresh talent, and on the entrepreneurs’ side, a lack of resources and scale with which to grow their business ideas.
The study also examines the potential imbalance in benefits that can result from such partnerships and how this can be addressed, and charts the potential journey towards an open innovation ecosystem for a large organisation (see below).
Well worth a read.