A systematic approach of partner selection for open innovation

Abstract

Purpose - The purpose of this paper is to propose a systematic approach to exploring potential partners for open innovation in order to facilitate the process of technological collaboration. Design/methodology/approach - The proposed approach utilizes patent information that is considered the most effective data to investigate innovation activities by applying morphology analysis (MA) and generative topology map (GTM) to the process to identify the configurations of technologies and visualize the collected patent information. In particular, diverse informative indices can assist researchers in deriving appropriate partners for technological cooperation. Findings - The hybrid approach that combines MA, GTM, and indices is useful to discover technological opportunity, identify necessary technologies and explore potential partners. The systematic process can overcome the limitations of existing approaches that depend on the insights and strategic decisions of top management, reflect a superficial relationship among firms and mostly fail to consider both theoretical and practical approaches to retrieve potential partners. Practical implications - The results of this paper will help practitioners, academic researchers, and policy makers link a pair of partners who can maximize the synergy of collaboration in a systematic manner. The proposed approach is illustrated to show the validity of the process with a case of light emitting diode (LED) technology. In addition, the social cost for collaboration can be reduced by applying the proposed approach in open innovation. Originality/value - This paper tackles the important issue of exploring appropriate partners by applying a systematic approach that utilizes text mining, MA and GTM because existing research mostly deals with ad-hoc processes. The proposed approach utilizes multiple methodologies of data mining and technology forecasting to derive promising technology areas in a systematic manner and then employs critical indices to explore proper partners. Thus, this approach considers both quantitative and qualitative methodologies to suggest a sophisticated tool for successful open innovation. Moreover, a real case - LED case was illustrated to demonstrate that the proposed approach can be employed to implement technological cooperation.