Open Innovation Model
The innovation process works on an open innovation model, based on cooperation with external partners who are capable of complementing company needs and capacities, with the aim of accelerating the process.
As opposed to a traditional model, where the company keeps to itself, innovation occurs through an open process which welcomes collaboration in all its stages, from an initial research on existing challenges, the thinking of solutions and development of projects and the testing of results through prototypes and/or pilots until they are ready to be implemented or marketed.
The open innovation model involves joint learning through contributions from own staff and third parties, who can engage in part or all of the innovation process.
Under this model, partners working jointly with Ferrovial can participate both at the start or in intermediate stages of the process; the ideas generated and projects developed can emerge from both within or outwith the company; the process can be abandoned before reaching the traditional market (licenses, start-ups, etc.); and marketing of results can be done both by the company or through other companies, using own and external channels.
This open innovation model is the strategy chosen by Ferrovial to coordinate the innovation process aimed at providing solutions to the worldwide challenges faced by the infrastructures and services sector. It implies a collaborative way of working which will provide more disruptive solutions reaching the markets faster.
OPEN INNOVATION ECOSYSTEM
Ferrovial’s commitment to a model of open innovation as a key element in its innovation strategy is based on the creation of a partner ecosystem (start-ups, large corporations, public institutions, research centres, universities, etc.) to work jointly and accelerate the innovation process. Thanks to this, the transfer of information and knowledge is greatly speeded up, as is the generation of ideas, the development of projects, prototypes and pilots and the marketing of results, thereby taking less time to get a reaction to the challenges facing the infrastructure and services sector. The ultimate aim is to make innovation more agile, while at the same time bringing to the market new products, processes and business models.