Open Innovation in the Norwegian finance industry: How a Norwegian bank collaborates with startups

Abstract

The overall purpose of this study has been to shed light on how an actor in the Norwegian finance industry uses elements from Open Innovation in order to collaborate with startups. We have conducted a single-case study with three units of analysis to investigate the research phenomenon. We propose and use the corporate-startup collaboration (CSC) model to portrait how a corporate actor uses elements from Open Innovation in order to collaborate with startups. We found that an actor in the Norwegian finance industry actively uses Open Innovation elements, but we recognize that the elements have potential for a more optimized and structured approach.