BIA launches the first Bulgarian platform for open innovations, which has the intention of connecting companies and institutions with startups to solve specific problems or develop new solutions for particular areas. BIA's purpose:
- supporting business and administration to find new innovative solutions to existing or emerging problems;
- providing cooperation opportunities and partnerships for startups with already established companies;
- improving the process of open innovation in Bulgaria;
- better development of the innovation ecosystem.
What is open innovation?
Open innovation is a business model for finding new solutions that encourage collaboration between people and organizations outside the company. In this sense, open innovation challenges are a real breakthrough in the mentality of companies regarding the traditional paradigm that product development and problem-solving approaches have to be kept in secret. This innovation model becomes vital when the company recognizes there are many remarkable professionals out there who have the knowledge and experience to support them.
International experience
Open innovation platforms are well known among almost all countries with a developed business ecosystem. The Center for International Economic Cooperation at BIA, through its connections and the Enterprise Europe Network, regularly provides information about the challenges that are posed through the platforms in Spain, the Netherlands, Germany, and others. Bulgarian startup companies make no exception and some set successful examples for their European partners for finding the right strategies and solutions.
How do companies benefit?
- A fresh pair of eyes on the problem;
- New opportunities for the development of new products and services;
- New partnerships;
- Reduction of development costs;
- Direct quick access to knowledge and skills outside the company;
- Higher productivity of development processes;
- Process speed with optimal use of resources compared to the traditional approach;
- Choosing the optimal set of partners who work on targeted topics.
How do startups benefit?
- Access to first / new large clients;
- Opportunity to validate new solutions in a real business environment;
- Joint development activities with large partners and potential financing;
- Under set conditions, access to the network of business's contacts of the challenging company;
- Joint venture possibilities;
- Opportunity to work in a network and partnership with other startups on a specific case.
For contacts: Hristina Kasparyan - ierc2@bia-bg.com
