Corporations have outsourced a fraction of their R&D for years, but today their dependence on entrepreneurs for innovation is unprecedented. During the past three years P&G has cut in-house R&D spending from 4.5% of sales to 3.5%, while increasing the share of ideas and products it gets outside the company to 35% from 20%; its goal for the process, called Connect and Develop, is 50%.
Monday, February 28, 2005
The Lone Inventor
This article from Fortune discusses the trend of companies looking outward to entrepreneurs and inventors for their innovation needs:
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