Open Innovation 2 . O : A New Paradigm

The challenges we face in Europe and beyond are too large to tackle in isolation and thus we need a new approach. Better solutions are needed globally in domains such as healthcare, transportation, climate change, youth unemployment, financial stability, prosperity, sustainability, and growth. These challenges provide a significant opportunity to create new shared value through innovation. Society’s challenges may well reflect the transition to innovative solutions, and today’s challenges are perhaps best seen as examples of Joseph Schumpeter’s (1942) creative destruction model where the failure of old approaches fuels the motivation for change and shapes the future. The challenges also call attention to the quadruple helix model of innovation where civil society joins with business, academia, and government sectors to drive changes far beyond the scope of what any one organization can do on their own. To do so will require us to re-double our drive to experiment. Our destination is a new model for innovation, Open Innovation 2.O. Abstract