Abstract
In order to achieve successful open innovation partnerships, small- and medium-sized enterprises (SMEs) need to choose very carefully whom they partner with. Open innovation has gained significant attention as a strategy for organizations to leverage external knowledge and resources to foster innovation and competitiveness. However, few studies have examined the dynamics of open innovation partnerships between startups and SMEs. This study adopts a qualitative research approach, employing multiple case studies to gather data. We mapped the reasons German medium-sized enterprises chose to partner with startups, enumerated the benefits and challenges they encountered during the projects, and uncovered the keystones of successful open innovation partnerships. Furthermore, our findings led to the discovery that startups can help SMEs to become more digital. Finally, we suggest future research topics in this field.
