Narasimhalu, Desai : School of Information System, Singapore Management University, Singapore From: 2008 ISPIM Innovation Conference (Tours) Continuous innovation is the only mantra for the sustenance and sustained business leadership in any industry. Mighty companies have come to naught because they failed to understand the importance of continuous innovation. There is a major shift in innovation management practices. Even the most competitive companies are beginning to realize that new innovations are increasingly complex and that there is a need to establish collaborative platforms within and beyond organizational boundaries. We believe that innovation management ought to be a major research and practice discipline that addresses the issues related to creating and managing an innovative culture and environments within organizations. This paper proposes a maturity model for innovation management and goes on to encapsulate the practices in open innovation management. Many organizations have treated innovation as the exclusive rights of a selected few in the company. The generally accepted practice was for a strategy or planning unit that is located in the headquarters to be the innovation brains of the company. This group was deemed to know what is good for the company and hence would be able to prescribe the way forward. This was alright when the innovation development cycles were relatively long and the competition was not as fierce. As the world gets flatter and the educational levels of different continents move northwards it becomes imperative that companies make the best use of all the bright minds scattered around the globe. This is the major driving force for the open innovation movement. Open innovation is not entirely new. Computer Science and Information Technology communities have witnessed many open innovation projects that have been very successful, albeit with limited market dominance. Examples abound - Linux is an often cited as a classical example of open innovation. There have been other earlier attempts such as GNU software that also had their own degrees of success. A maturity model for innovation management is first presented in section 2. This is followed by discussions on models of open innovations as observed in the industry. A full version of this document is not available for purchase or download.