EuroIncNet is an initiative that brings together some of the best business incubators in Europe, according to the evaluation criteria of the international association UBI Global, in a single network. The partnership aims to increase the ability of incubated companies to enter the European market, through soft landing programmes and Open Innovation initiatives with large corporate entities.
There are currently five innovative startup incubators in the network: SetSquared in the UK, INiTS in Austria, Imec in Belgium, I3P in Italy and UIC in Sweden. The newly reached agreement for the expansion of the project will provide start-ups, including Italian ones, access to selected clients of national and international relevance, mediated by all the incubators; moreover, the network will soon be expanded with the entry of new partners.
What is Open Innovation?
Open Innovation is an approach to innovation by which companies rely on ideas, resources and technological skills coming from the outside, specifically from start-ups, universities, research organisations, suppliers and consultants, to tackle digital transformation processes or innovation processes in general.
According to Henry William Chesbrough, author of the essay "The era of open innovation" (2003), the "closed innovation" paradigm, or innovation within the company, is no longer sufficient to compete in today's market, despite companies' fears that they are no longer the only owners of inventions and legitimate attempts to protect their intellectual property.
How is Open Innovation done?
Practical ways of doing open innovation include inter-company agreements, financial support for start-up competitions, hackathons, the acquisition of innovative start-ups by large corporations, partnerships with universities, research centres and incubators to innovate in specific sectors. The aim is to provide start-ups and large corporations with communication channels also at European level, such as those of the EuroIncNet network.