Samenvatting

The purpose of this paper is to clarify the concept of open innovation and to develop
insights on how Open Innovation can benefit young entrepreneurs who are in the process of creating their own start-up company. It discusses the reasons and motives of
why young start-ups are encouraged to adopt open innovation practices. Moreover,
the success factors and challenges that start-up face that implements open innovation
practices are vital for all entrepreneurs to study as via open innovation start-ups can
overcome the initial barriers that most start-ups face. This paper focusses on different
dimensions of open innovation for young entrepreneurs – Start-ups and Open Innovation, Antecedents of Open Innovation, Success Factors and Challenges - and serves as
an information guiding tool for young entrepreneurs to understand various notions of
open innovation so they can adapt their business before an open innovation practice
can be successfully implemented.