Open innovation has the potential to double in size, even in 2024, with the adoption of AI to scale processes and support decision making
Complexity in connections and low digital maturity are bottlenecks
Investment in open innovation in Brazil could generate more than R$10 billion in 2024, representing a growth of almost 100% compared to 2023. This is what Bruno Rondani, specialist on the subject and founding partner of 100 Open Startups, a leading platform in open innovation with 15 years of experience in the sector.
Investment, according to Bruno, has fallen far short of the companies' potential, especially due to the challenges inherent to this innovation model, with thousands of actors involved and asymmetry in access to information. An example of the potential impact and complexity of the ecosystem is in the connections computed by 100 Open Startups in 2023. During the year, 4,167 startups signed contracts with corporations, but based on the number of interactions on the platform, this number could be up to four times greater.
A survey of around 70 C-Level executives, carried out in February 2024 by MatchIT, an AI startup applied to innovation management, reinforces the view that open innovation still has a lot of room to grow. According to the survey, only 7.5% of organizations have structured support from innovation hubs to connect to the startup ecosystem. 
According to Rose Ramos, founder and CEO of MatchIT, the challenge of connecting with startups is an obstacle, but it is far from being the only bottleneck. “Companies face both human and technological challenges in managing innovation. Our study shows that 41.8% of organizations see excessive demands and the difficulty in prioritizing them as the biggest obstacles to implementing effective strategies in 2024”, he explains. MatchIT is member of ABES and participated in the first edition of pitch night, held in 2023.
The research also shows that 82% companies still manage innovation with documents, slides and spreadsheets that are not integrated or automated, maintaining annual cycles for plans and budgets. This method limits companies' ability to expand internal collaboration to identify ideas and opportunities, in addition to hindering the flexibility and agility necessary to adopt innovations efficiently.
The challenges in managing innovation are substantial, which opens up a range of opportunities for the adoption of Artificial Intelligence (AI), in order to guarantee greater productivity in processes and data support in decision making.
AI as a catalyst for corporate innovation
With an eye on these challenges, 100 Open Startups and Match IT joined forces to launch a solution that applies Generative Artificial Intelligence (like ChatGPT) in innovation processes: from ideation to connecting with potential partners, through prioritizing and refining requirements .
The tool, called Transform IT, is designed to reduce complexities, automate processes and provide valuable insights for decision making, directly addressing the gaps identified in the current open innovation scenario.
“The partnership between Match IT and 100 Open Startups is an important milestone. We are defining a new standard for innovation management, where AI strengthens the connection of digital transformation and IT initiatives with the startup ecosystem, making processes more agile and data-based”, highlights Rose Ramos.
The first guests to adopt Transform IT were chosen among the top 20 corporations in the 100 Open ranking, including innovation leaders in renowned companies such as Petrobras and Sicredi. This group of experts will begin to experience the benefits of Artificial Intelligence in innovation management from March 1st. The solution will be used in the 100 Open Startups monthly forums, and through collaborative dynamics the platform will be constantly improved, in order to follow the evolution of the ecosystem.
“Using AI in innovation management completely changes the game. Executives can make better decisions based on visible information and data captured throughout the process. And organizations can benefit from greater collaboration between multiple actors, applying more flexible and non-linear approaches”, analyzes Bruno Rondani.
By integrating AI into innovation management, 100 Open Startups and Match IT seek to unlock investments in innovation, make the practice more democratized and accessible, and accelerate the digital evolution of Latin America.
About Match IT: Hosted in the heart of the Unicamp Technology Park, Match IT is a deeptech startup that stands out on the national and international scene for its advanced Artificial Intelligence solutions, applied to innovation management. With a firm R&D agreement with the Unicamp Computing Institute and supported by innovation resources from PIPE Phase 2 Fapesp and Embrapii, developed together with CEIA-UFG, the company has been transforming the innovation ecosystem. Its portfolio has two innovative platforms: Match IT, a B2B IT match marketplace, and Transform IT, an AI SaaS for managing digital innovation.
About 100 Open Startups: With more than 15 years of experience, 100 Open Startups is recognized worldwide as the leading open innovation platform. Its methodology and technology for connecting corporations with startups facilitate collaboration in search of disruptive solutions. Through emblematic events, such as Oiweek, and data analysis solutions that provide strategic reports, 100 Open Startups has been a vector of transformation in the innovation ecosystem.
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