Open innovation: challenges of the modern world for universities of Republic of Moldova

Abstract

The modern operating environment of organizations is pushing companies towards new approaches to doing business, including the stimulation and development of innovation. This new view of the development of innovative activities is "open innovation", which is widespread in foreign companies and to a less extent among Moldovan entrepreneurs. In addition to entrepreneurial organizations, any organization, including an educational institution, can use the experience of "open innovation". The aim of this work is to reveal the essence of "open innovation", to confirm their advantages over the traditional approach, and to demonstrate the viability of open innovation on the example of educational institutions participating in the MHELM project. The main research methods include: comparative analysis, synthesis, observation, abstraction, ascent from the abstract to the concrete. The results of the study underline the importance of the use of innovations by private and public organizations. One of the modern approaches to innovation is open innovation, the importance of which is confirmed by the success of many companies that apply them in practice. JEL: O36, O35, A13.