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Chesbrough Leads New Center On Corporate Innovation
In addition to producing pioneering work on open innovation, Adjunct Professor Henry Chesbrough recently took the helm as inaugural faculty director of the Haas School's new Garwood Center for Corporate Innovation.
The new center expands the school's focus on large enterprise innovation. The creation of the center was made possible by a $4.5 million endowment from the late Ed Garwood, BS 31, and his wife, Elsie. Its launch is part of a restructuring of the Haas School's Institute of Business Innovation, which is overseen by Professor Michael Katz.
"The Garwood Center will provide a focus on the particular problems of innovation in a corporate context," says Katz. "Henry Chesbrough's track record as the 'father of Open Innovation' makes him ideally suited to lead this new endeavor within the institute."
"Globalization and commoditization are creating significant challenges for corporate innovation," Chesbrough observes. "The Garwood Center will focus on both academic research and management practices that address these challenges."
The Garwood Center will house a range of activities previously under the auspices of the Center for Open Innovation. Activities of the renamed Open Innovation Program will include courses; a speaker series; and the Berkeley Innovation Forum, a membership organization hosted by Chesbrough to give firms the opportunity to share knowledge about overcoming innovation challenges.
The Garwood Center will also serve as the home of the Project on Business Model Innovation, which received seed funding from Nokia. The program will offer grants for academic research that addresses the challenges faced by large businesses in developing new business models, including revenue and pricing models. The center also will house the school's Haas@Work Programa, which is now being led by alumnus David Rochlin, BS 85. Haas@Work is an applied-innovation program in which teams of students work with business clients to develop innovative solutions to their problems.
Garwood is one of three centers housed in the Institute for Business Innovation, which serves as the hub for Haas research, teaching, and outreach on innovation. The other two centers are the Fisher Center for Management & Technology and the Lester Center for Entrepreneurship.