Wednesday TALK! #2

Тhe second panel discussion organized by the SEEUTechPark was held on February 26th, 2014. During the second Wednesday TALK! were discussed on how one business idea can be transformed into a profitable business, and how to undertake innovations which are essential for the success of a company.

Today there is a huge number of young entrepreneurs that have succeed to transform their creative idea into a profitable business by implementing their knowledge, skills and motivation. Those who succeed owe their success not only to hard work and determination but also to the implementation of new innovations that are essential in today’s global environment. In the competitiveenvironment in which we live nowadays, where products have similar performances, quality and functionality, innovation or innovative methods are most important.

Innovation is a process of transforming a new, original idea or invention into a product or service that creates value and satisfies the needs of the clients.

Moreover by using and implementing open innovation, businesses have more benefits such as: knowledge and technology of other related businesses, cost reduction, new ideas, new partnerships and access to new markets.

Openinnovation represents the needfor companies to take bigger role in theuse of new external ideas and technologies in their own business, and on the other hand let other companies in the international market use their own ideas.