Open Innovation to Manage Risks in Technology and Business

PARC, a Xerox company, is in the Business of Breakthroughs. Practicing a unique model of open innovation, we provide custom R&D services, technology expertise, best practices, and intellectual property to Fortune 500 and Global 1000 companies, startups, and government agencies. Through this work, PARC found that open innovation is a powerful framework to navigate through the unexpected. It allows us to target long term technology trajectories without the constraint of short term goals. It makes it possible to recognize and leverage unforeseen outcomes of research and rapidly commercialize them with partners. It also makes it possible to connect solutions from disparate fields for very specific, immediate client goals. Connecting technologies, ideas and players is especially impactful in emerging fields where ecosystems and value chains are not yet in established. Examples of such areas are at the intersection of the future of electronics and additive manufacturing, the democratization of energy, novel networking infrastructures. Open innovation allows creating new business options, accelerate time to market, augment internal capabilities, and in particular, reduce risk.