Open Alchemy

Business type

Open Innovation

Service/product description

The Open Alchemy project was a collaboration between NESTA, Oracle and Innovaro.

The project was a fresh approach to developing new products with suppliers, opening up the process using the principles of corporate open innovation. It was an exercise in collaboration featuring some of the UK’s most high-profile corporates, united by a desire to be one step ahead of fast-moving technology markets.

Each enterprise that participated in the project operates in a different sector, but all are linked as customers of Oracle, the world’s largest enterprise software company.

What does 'openness' mean in this case?

Open Alchemy took known challenges that the near future will throw at us, and pooled some of the most innovative minds in the UK to turn these challenges into significant opportunities. It helped to engage the grassroots of company workforces as well as a wide variety of external innovation experts such as entrepreneurs, inventors and strategists.