The importance for a Start-up to trust in Open Innovation: a systematic literature review

Abstract

It has long been known that new firms are fundamental for economic growth. Starting new companies is one of the best ways to fight unemployment and to generate well-being. Therefore, attention is paid by the scientific community to start-ups, with particular emphasis at how they generate, acquire and manage innovation. In their starting phase, start-ups need to identify the resources necessary for innovation and later they will decide whether to develop them internally or acquire them externally. Being open to external sources is a crucial point for the success of an entrepreneurial venture, that is, adopting open innovation processes allows start-ups to overcome their initial challenges and shortcomings. The goal of the present research is to understand the status of the literature related to Open Innovation adoption by start-ups. Through the literature search and analysis, the most relevant articles have been identified and analyzed.