Abstract

Open innovation refers to companies overcoming the limitations of existing resources—such as knowledge, technology, R&D, and innovation capabilities—in a rapidly changing and highly competitive environment by utilizing external resource exchanges and knowledge mediation, alongside their internal capabilities. Innovation intermediaries involved in open innovation primarily facilitate collaboration, connect innovation entities, and provide stakeholder services. To analyze the role of innovation intermediaries from the perspectives of resource dependence theory and core competency theory, this study conducted an in-depth analysis of open innovation cases between a large company L and startup E and between a large company H and startup M. The results of the study show that, first, innovation intermediaries resolve resource imbalances between companies and promote open innovation. Second, innovation intermediaries help companies strengthen their core competencies to secure a competitive advantage. Additionally, as demonstrated through insights from the two open innovation cases examined in this paper, it was confirmed that innovation intermediaries must make efforts to connect startups with investors or provide follow-up funding even after open innovation. The significance of this study lies in confirming the critical role of innovation intermediaries in the open innovation process and highlighting the continued need for financial support to startups after open innovation.