Today’s innovators are under immense pressure from all directions as change is happening much faster than ever before. Digital transformation and Covid 19 Pandemic have also exacerbated this situation by creating technology, capability, and resource gaps in organizations. As a result, many innovators are now faced with new challenges that require assistance from peers and subject matter experts (SMEs) to solve.
Co-innovation addresses these issues in a novel way. It helps innovators solve their business and innovation challenges by co-creating with trusted partners and experts in an innovation ecosystem—”club-of-experts”. Co-innovation is imperative to the success of innovators in today’s transient world as it helps them to rapidly fill their gaps in the discovery, incubation, and acceleration phases of innovation and achieve their desired business outcomes.