Entrepreneurship refers to the process of creating or starting a new business venture in order to make a profit. It involves identifying a need in the market and developing a product or service to meet that need. Entrepreneurs take risks and are often seen as innovative and creative problem solvers.
Open innovation is a concept that encourages businesses to collaborate and openly share ideas with external partners and the wider public, in order to spur innovation and solve problems more quickly and effectively. It's a shift from traditional "closed" innovation models, where a company keeps all its ideas and R&D efforts internally. Open innovation leverages the collective knowledge and expertise of a wide range of individuals and organizations to drive innovation and create new value.
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