Innovation is a strategic demand for firms in the current competition vigorous ICT industry. To achieve a competitive advantage, firms need to accelerate their innovation process. This need requires creating a clear innovation model and strategy that can be divided into elementary factors, to be separately analyzed further. This book emphasizes the importance of adapting an open innovation model by firms, enabling them to accelerate the innovation process. To address this topic, the book proposed approaching open innovation as a dynamic process. To analyze open innovation, Literature review was undertaken in various topics related to innovation. In addition, interviews were conducted to grasp an overall understanding of the current innovation ecosystem, and define the various elements in innovation process. Consequently, a model was proposed in the analysis section representing open innovation as a dynamic process. This book includes guidance and knowledge for Intrapreneurs, Innovation Managers and Decision makers in organizational strategy.