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Our client is a multinational conglomerate founded in Japan, specialising in the production of all sorts of products in a wide range of industries, but mostly known worldwide for their consumer electronic devices. Today the company is one of the key players in the consumer electronics market worldwide, employing over 250 000 employees.
The client reached out to Daxue with a project to identify open innovation opportunities and best practices in China. The final goal of this research was to get a comprehensive understanding of China’s open innovation landscape and how other MNCs navigate it.
We divided our project into two steps:
Step 1: Identification of open innovation landscape and best practices in the electronics industry
Step 2: Mapping of the innovation opportunities
The first step provided us with a comprehensive understanding at a macro level of the open innovation landscape in the electronics sector in China and how foreign MNCs collaborate with Chinese stakeholders.
Here, in addition to in-depth research and analysis of the market, we also organized expert interviews to identify MNCs best practices in open innovation in China.
In this step, we carried out a screening of potential partners and high-potential open innovation hubs. This way we could get a deeper insight into the open innovation stakeholder environment.
This includes a deep dive into the most promising incubators and accelerators (outside-in innovation), and potential manufacturing and distribution partners that the client can leverage in China for licensing products (inside-out innovation).
After an extensive analysis, we equipped our client with an in-depth macro-level feasibility analysis of all open innovation projects in China. We highlighted the key limitations and unfeasible aspects of the client’s innovation strategy to participate.
We also provided a design of a partnership portfolio strategy and mapped opportunity-rich areas for the best open innovation strategy in China for our client.
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