How Mageneti Marelli Used Open Innovation to Find the Competitive Edge

magneti marelliWhat can happen when you invite open, global innovation into your organization? International company Magneti Marelli found out when they partnered with Open Knowledge to create their Laptime Club.

Magneti Marelli was founded in Italy in 1919. It is committed to the design and production of hi-tech systems and components for the automotive industry.  As an organization, the group’s presence stretches across 19 countries, and is a supplier for the most important car makers in Europe, North and South America, and Asia.

Structured to be a community for motorsport engineers and experts, but also for technology and electronics enthusiasts, the Laptime Club was designed specifically to stimulate creativity and innovation in racing. It was open to the entire global community, and 85% of the ideas that Magneti Marelli ended up receiving were from sources external to their company.

As a result of the group’s large-scale invitation, they received nearly 100 ideas across 6 months of innovation. From these, twenty ideas rose to the surface as idea finalists, and then were further winnowed to two winning ideas to be considered for development.

Two of the most powerful strategies that Magneti Marelli used during the innovation period were their social media outreach and their regular innovation team meetings. The group used the entire digital toolkit in order to promote the innovation community, including blogging, email announcements, and campaigns on social media platforms like Facebook and Google. This allowed them to do the absolute most digital promotion possible. Magneti Marelli also utilized regular innovation team meetings, gathering once a month to look at and respond to new ideas, including reaching out to idea authors for more details about their ideas. Imagine how encouraging it would be as an idea author to not have to wait until the end of the six-month to hear anything about your idea. It likely made idea authors more apt to want to contribute in the future, even if their first ideas were not implemented.

Read more about Magneti Marelli and the Laptime Club in this recent case study.

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