Open Innovation: An Approach to Strengthening the Competitiveness of Startups in the Contemporary Digital Environment

Abstract

This study aims to explore the role of open innovation in supporting the competitiveness of startups, highlighting the importance of using modern technologies and tapping into external knowledge sources to improve performance and enhance innovation capacity. It also sheds light on how open innovation helps startups cope with the challenges posed by the fast-changing digital environment. The study finds that open innovation is a strategic approach to boosting startup competitiveness by leveraging new technologies, applying them in the market, and speeding up product and service development. Additionally, it promotes knowledge sharing, strengthens interactions between academia and industry, and accelerates technology development and deployment.