The purpose of this paper is to synthesize the extant literature on open innovation (OI) in small and medium-sized enterprises (SMEs).
An examination of the literature was undertaken to review the studies on open innovation in SMEs. The selected articles were classified in different themes and analyzed accordingly.
The study finds that adopting OI by SMEs improves their overall innovation performance. The authors found that a larger number of studies are based on a quantitative approach. Surprisingly, unlike in many other disciplines, scholars of North America have had a limited contribution. European scholars, along with some scholars from Korea and China, have been active in developing this field of OI in SMEs.
This study provides theoretical and managerial implications. With thematic analysis, along with identifying gaps, conflations, and contradictions in the literature, this study proposes an agenda for future exploration.
The value of this study lies in the integration of the limited but scattered studies on OI in SMEs.
The authors are grateful to the Finnish Cultural Foundation for funding this study.
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