“Build And Innovate” Partners: The What, Why, And Who Of Co-Innovation With Your Partner Ecosystem

Accelerating innovation to stay competitive, achieve customer outcomes, and sustain growth has become a strategic imperative for many companies in today’s changing business landscape. However, companies have discovered that accomplishing this objective purely through internal efforts presents a lengthy list of challenges. As a result, top-performing companies are expanding their partner ecosystem to include co-innovation partners (also known as “build and innovate” partners). In this report, we explore the drivers and benefits of co-innovation for both suppliers and partners and provide a process for companies to use to identify and select those that will play a vital role in their growth.