Philips 2005 Annual Report Download - page 24

Philips Annual Report 200524
We see technology as an enabler. If it improves people’s lives, a smart application
of technology can be as ‘advanced’ as the technology itself.
Technology that
a difference
Open Innovation and alliances
We actively promote and practice Open Innovation – research and development
that is based on close cooperation with industrial and academic partners in order
to increase the speed and effectiveness of innovation. The High Tech Campus
Eindhoven – situated in Europe’s leading R&D region, the Eindhoven-Aachen-
Leuven ‘triangle’ – is home not only to a large part of Philips’ technology
community, but also to a diversity of other high-tech companies. In this open
environment they can all collaborate on the development of new technologies
in crucial areas such as microsystems, molecular medicine, embedded systems,
signal processing and nanotechnology.
Ourpractical,openapproachtoindustrialresearchisfurtherexempliedbythe
partnership deal that Philips Research has concluded with New Venture Partners,
thecorporateventuringrm,toidentifyandcreatespin-offbusinessesbasedon
technology from Philips Research’s global network of laboratories. We expect to
benetfromthispartnershipbyrealizingvaluefrominnovationsthatwedecide
not to pursue as part of our business strategy or product portfolio, thereby
maintainingcorporatefocusonourprimarymarketsandobjectives.Therst
business to be developed under this partnership is based on our electrowetting
technology for vastly improved display screens for mobile applications, such as
PDAs, mobile phones and video cameras.