In exploring new paths to market, Food Service Companies are increasingly looking to external providers to acquire the scientific and technological expertise that will help them improve their growth strategy and advance the capabilities of their own innovation teams.
Importantly, the process of incorporating this new knowledge base is often framed in terms of open innovation methodologies. Originally coined by Henry Chesbrough, open innovation practices can speed up knowledge transfer across a company’s traditional boundaries, allowing a competitive advantage to be achieved through cooperative agreements and joint concept discovery and exploration.