Innovation Insights

The clear benefits of open innovation   Collaborating with research institutions has helped precision optics company Wangi Industrial to deepen their competitive advance, says Vice President Chew Ker Yee.      You might not realise it, but you probably interact with products from Wangi Industial every day. Everything from smartphone screens to fingerprint scanners at airports make use of their special...

Taking the time to craft a good problem statement and prioritising good communication can help co-innovation between large corporations and start-ups succeed.    To stay competitive, many companies—even established ones—are actively seeking to bring new ideas into their purview. Roche Diagnostics, for instance, spent over US$10 billion on research and development in 2018 alone, said Wendy Bao, executive director of...

At RIE Industry Day 2019, a panel of experts shared their insights on how businesses can effectively tap on partnerships with public research institutions to stay ahead of the curve in Industry 4.0.   First invented to pump water out of mines in the late 17th century, the steam engine became the hallmark of the first industrial revolution, a transformative...

A glossary of technology licensing terms A licensing agreement sets the tone and trajectory of a partnership between two companies. Here are 10 important terms in a technology licensing agreement.  As companies strive to gain a competitive edge, many either license technology into their company to augment product development efforts, or license technology to others to create a new revenue stream. With...

Going green and growing sustainably   Find out how this Singapore-based company used an open innovation strategy to cope with tectonic shifts in the global chemicals industry.   While pigments and dyes add colour to our world, not all of them are environmentally friendly. Should these chemicals leach into streams and lakes untreated, for example, they may cause harm to the...

What innovation teams need to know and do  Introspection, extrospection, technical ability and interaction skills are critical for implementing effective open innovation strategies in organisations.    Whether it is a fresh idea, a new product or a revamped process, innovation can take many forms and is a key fuel for growth in companies. Sustaining innovation, however, is an uphill task,...