Conference Publication Details
Mandatory Fields
McCormack, B, Fallon, EF. and Cormican, K.
Procedia Manufacturing
An analysis of open innovation practices in the medical technology sector in Ireland
2015
March
Published
1
WOS: 3 ()
Optional Fields
Open innovation Medical technology Galway-Ireland cluster Medicon valley cluster
503
509
Many factors affect the success of companies in the medical technology (MedTech) industry, a major contributor to Ireland's and Europe's economy. Open Innovation (OI) is a well documented innovation strategy which sees companies utilize outside knowledge to enhance their capabilities or allow outside partners or independent actors to share or buy their unused intellectual property. There are many advantages to be gained from using open innovation including increased revenues and up-to-date product ranges. A survey was administered in order to gain an understanding of key aspects of OI as practiced in the Galway MedTech cluster in Ireland. These included OI Practices, OI Drivers, and OI Barriers. The survey was based on a similar survey administered in a Danish-Swedish MedTech cluster called Medicon Valley (MV). It was found that in the Galway MedTech cluster significant emphasis was placed on R&D and also production in the practice of OI. Outsourcing of R&D was found to be a frequently used OI strategy, though there was a distinct reluctance to create spin-off companies which reflected a desire to retain exclusive access to propriety knowledge. The main Drivers of OI were found to be Capacity, Control and Market. The main Barriers to OI were found to be the availability of Finance, Quality of Partners and Idea Management. The partners most frequently used within the cluster were Knowledge Institutions and Consultants or Engineering Firms. Within the MV cluster greater emphasis was placed on R&D as an OI practice. In general, a similar profile with respect to OI Practices and Barriers as that observed in the Galway cluster was observed in the MV cluster. There was however differences in the Drivers of OI particularly with respect to Outsourcing of R&D. One possible explanation is that there were a greater proportion of micro start-ups in the MV cluster than in the Galway MedTech cluster. (C) 2015 The Authors. Published by Elsevier B.V.
10.1016/j.promfg.2015.07.214
Grant Details
Publication Themes
Applied Social Sciences and Public Policy