External Insights to Boost Internal R&D Efforts of the Fish and Seafood Export Processing Industry in Sri Lanka

Abstract

This research is focused on the fish and seafood export industry of Sri Lanka, considering its importance to the country’s economy. The objectives of the study are to investigate the nature of open innovation practices among fish and seafood exporters in Sri Lanka and to find out the role of open innovation on product and process development, market identification, market expansion, brand image, quality control, labelling and certification, sales promotion and advertising, and the sustainability of the resource base. The empirical study is based on the data obtained from 26 EU approved fish and seafood processing establishments. A structured questionnaire followed by interviews with CEOs, RD idea-rich/poor, conversion rich/poor and diffusion rich/poor. Hypothesis testing proved the positive relationship between firm performance and open innovation practices of the firms. Results reveal that firms are idea rich, conversion and diffusion moderate. Moreover, the study has identified open innovation partners, the nature of their support and the open innovation process of the fish and seafood export processors.