That is the question Philips ask in their current open innovation challenge. Here students, entrepreneurs, and other budding inventors are encouraged to innovate around specific business challenges defined by product categories within the Consumer Lifestyle division at Philips.
Entrants are offered the chance to win a trip to Amsterdam to attend the finalist event, at which they can participate in an innovation masterclass given by Philips innovation specialists and the opportunity to present their innovation to Philips executives.
I am giving this a shout-out because my interactions over the years with Philips tell me that they are doing great things internally to develop an open innovation culture. We just don’t hear that much from Philips and I am thus glad to learn about this initiative.
Actually, Philips seems to be picking up speed when it comes to connecting with external innovators. They now speak at conferences frequently and next week, they are even hosting a Twitter chat in which we can learn more about the creative process and how to bring ideas to reality within Philips.
In the Twitter chat, Alberto Prado, Vice President of Digital and Open Innovation at Philips, will answer questions and share his thoughts on innovation. This happens on Monday 22nd October at 19.30 CET / 13.30 EST. To join the chat, just get on Twitter – or use an application such as HootSuite – and then check in on the hashtag #UrbanChat
Here you read other of my blog posts on Philips and their open innovation initiatives: