Open innovation in Chinese SMEs: A case study

Abstract

This paper takes Newzt in China as an example to study the open innovation in SMEs. And other SMEs can learn from it. After describing the situation of SMEs and introducing the conception of open innovation shortly and taking the open innovation model of Chesbrough's open innovation, the paper studies Newzt's background, situation and the result of open innovation. We can draw a conclusion from this study that, in this competitive market, Newzt realizes its open innovation and creates a favorable market performance through cooperating with external source of innovation, as well as using the ways of open innovation timely.