Abstract
The purpose of this research is to study whether open innovation practices in SMEs favour technological innovations and the drivers of these. We propose a model of SME open innovation based on human capital (HC) approach and the commitment to learning with an emphasis on the risk taking and the formalization of an innovation strategy. The results, on a sample of 267 SMEs, show that a manager’s attitude to risk-taking and the formalization of an innovation strategy are the most important variables which promote SME open innovation. Innovation strategy formalization leverages the impact of HC and commitment to learning on open innovation, identifying an important mediating effect. Finally, open innovation activities promote product and process innovation, although this effect is greater for outbound activities. These findings have important implications for both managers and policy-makers.
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Data availability statement
The data that support the findings of this study are available from the corresponding author, upon reasonable request.
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This work was supported by the research program ECO2011-29080 “Innovation in the Spanish SME: profitability, financing, economic cycles and regional growth” financed by Ministerio de Ciencia e Innovación de España and by Santander-UPCT Chair of Entrepreneurship 2020 (Cátedra de Emprendimiento Santander-UPCT 2020).
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Madrid-Guijarro, A., Martin, D.P. & García-Pérez-de-Lema, D. Capacity of open innovation activities in fostering product and process innovation in manufacturing SMEs. Rev Manag Sci 15, 2137–2164 (2021). https://doi.org/10.1007/s11846-020-00419-8
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DOI: https://doi.org/10.1007/s11846-020-00419-8