Lynk Biotech: Open innovation project management
Publication Type
Case
Publication Date
5-2022
Abstract
The case is set in July 2020, when Lynk Biotech (Lynk), a pharmaceutical research company based in Singapore is facing the dilemma of designing new products from its existing transdermal platform which is a well-researched proven technology developed by the company. Lynk was a university spin-off focused on drug research, and had pivoted its business model to come up with over-the-counter topical cream products for the market. The company had followed the research publication route to gain visibility for its technology innovation and the clinical trial route to use its proprietary technology to develop products and bring them to market. All along, the company had relied on Open Innovation methods to build collaboration with local educational institutions to publish its research and help conduct clinical trials. However, the company faced significant challenges in expanding its market outside Singapore, as its products required expensive clinical trials and faced regulatory challenges in most countries.
In late 2019, a local research firm with ties to a renowned university in Singapore had approached Lynk to collaborate on using its proprietary technology for a new product that it was designing. While sharing its technology with appropriate licensing measures could be a plausible approach for the company to expand its outreach, were there other avenues that Lynk could explore to expand its business? Was partnering with research organisations the right way forward? Had the clinical trial method been the right way of embarking on its Open Innovation journey? This case will enable students to learn about Open Innovation (OI) practices used in SMEs and the challenges faced by SMEs in conducting research and bringing a product to market using Open Innovation methodologies. The case will also help students understand the various collaboration challenges faced by small enterprises and the constraints that act as a barrier towards monetising innovation in the market for such firms.
Keyword(s)
Open innovation, human-centred innovation, growth strategy, entrepreneurship, collaboration and teams, Startups
Discipline
Operations and Supply Chain Management | Technology and Innovation
Research Areas
Operations Management
Data Source
Field Research
Industry
Pharmaceutical Industry
Geographic Coverage
Singapore
Temporal Coverage
2020
Education Level
Executive Education; Postgraduate; Undergraduate
Case ID
SMU-22-0012
Additional URL
https://cmp.smu.edu.sg/case/5446
Comments
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