Bangkok: 19th October 2017:  The STI forum of outstanding technologist awards took place at the Athenee Crystal Hall.

This Forum is to promote excellence in leadership & management integrity & competency. Initiating & encouraging the learning and sharing of practical managerial knowledge. Providing & supporting networking opportunities with a vision to becoming a leading management development organisation in the ASEAN region by 2020.

Prof. Dr. Henry Chesbrough can be classed as the father of Innovation with a focus on the concept of open innovation who has written a series of books on this very subject.

The concept of open innovation is a gateway to strengthening the ecosystem as a whole. The specific areas of Dr Henry Chesbrough is a corporate innovation system that can help to elevate and support rural communities across Thailand, connecting them with global investors and instilling frameworks that offer innovative resources that will develop small businesses.

The open innovation business model for small villages through the village accelerator program encourages the need for village connectivity in order to raise incomes and employment. Companies can invest upfront for business development which generates credible business models that create room for scaling up.

Applying open innovation at the village level increases the development of connecting people, encouraging growth, expansion and development of the rural ecosystems. Through this smart village accelerator, villagers learnt how to start an e-commerce business and grew exponentially. By changing the mindset of the villagers, the conceptual structure of Open innovation and its business strength can be embeded into the foundations of Thai tech startups and encourage the ecosystem to grow, lifting the income of these villages.

By changing the mindset of the villagers, the conceptual structure of Open innovation and its business strength can be embedded into the foundations of Thai tech startups and encourage the ecosystem to grow, lifting the income of these villages and their inhabitants.

Dr Henry Chesbrough stated that ' It would be worthwhile for Thai's to study abroad for a year or two and team up with universities such as Berkley and then return to Thailand with more information to implement it into the communties that need it the most'

An example of an open innovative startup is the Siam cement group (SCG). This company is good for the whole society as it has sustainable development principles which help to grow the internal structures while being supported by corporate governance.

Chesbrough explains how open innovation can unlock the latent economic value in a company's ideas and technologies.  By adopting models such as the one developed by Amazon's 'open services' creates economies of scale. This raises the bar for its competitors and generates a profitable business for Amazon by hosting other companies websites through their own.  This initiative can be adopted by Thai startup companies which in turn will create a stronger and more successful economy for Thailand allowing for the development of tech startups and communities to strengthen the ecosystem.

 

Prof. Henry Chesbrough

Has written extensively on the topic of innovation, but it is best known for his work on open innovation, a term that has helped popularize an adjunct professor at the Hass School of Business, at the University of California, Berkley, Chesbrough was shortlisted for the 2013 thinkers 50 innovation award. He is the author of open services innovation: rethinking your business to grow and compete in a new era (2011).

His most recent book Open Innovation: The New Imperative for Creating and Profiting from Technology has

"open innovation," which strategically leverages internal and external sources of ideas and takes them to market through multiple paths. This path-breaking analysis is based on extensive field research, academic study, and the author's own longtime experience working in Silicon Valley. Through rich descriptions of the innovation processes of Xerox, IBM, Lucent, Intel, Merck, and Millennium, and the many spin-offs that have emerged from these firms, Open Innovation shows how a company can use its business model to identify a more enlightened role for R&D in a world of abundant information, better manage and access intellectual property, advance its current business, and grow its future business. Arguing that companies in all industries must transform the way they commercialize knowledge, Chesbrough convincingly shows how open innovation can unlock the latent economic value in a company's ideas and technologies.

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