Revolution in Innovation: a 30 Minutes Video By BFM

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Innovation is making its Revolution – BFM Business Documentary

Revolution in Innovation

BFM business made a documentary (in French) on how Open Innovation is changing how companies, big and small, are doing business today.

The documentary features big names like Procter and Gamble who were one of the pioneering companies in open innovation.

Thanks to open innovation, one of their most successful stories was the Febreze product that revolutionized the freshener industry due to the collaboration with an Italian company.

Gerald Bailey, the vice president of proctor and gamble home-care products, explains that the partnership not only brought answers on how to innovate the product itself, but they were also able to understand industrialization better and have more flexibility on a design that is practical, scalable and cool for the consumer.

Other examples of companies breaking down the old structure of innovation

Quirky – a New York start-up that has created a kind of an innovation “Facebook” who bring product to the market place through interaction between the online global community and Quirky’s product design staff.

Safaricom – an African telecommunication company holding over 17 million users created a mobile banking system called MPESA that allows transfer as little as 1 dollar.

Valeo – invented a car parking system by the use of smartphones through Open Innovation and many others.

“Collaborative innovation brings a faster reactivity and reduction of costs”

Companies are realizing that during a time like this with an acceleration of the industries and an economy affected by the crisis, they can no longer afford to remain in a closed world. They need to live in the spirit of collaborative innovation for a faster reactivity and reduction of costs.


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