Enabling an Open Innovation Model for EU Toy Industry SMEs through Co-Creation with FabLabs, Safety Experts and Customer Communities – ToyLabs

ToyLabs proposes the development of a unique, unified methodology that will create a multi-stakeholder network and consequently a multi-sided platform where key players in the toy industry value network are brought together and collaborate closely in order to come up with new, innovative toys and games, that a) will be able to quickly enter the market, b) will respond to a clear market demand, c) will be cost effective and d) will be customised in order to be able to enter also other EU markets. In order to achieve that, ToyLabs will take advantage of solutions that exploit:

• The FabLabs expertise on rapid prototyping
• The early integration of Toy Safety experts in the process
• the “crowd wisdom” as reflected by specific involved stakeholder groups

Therefore, ToyLabs, through the above mentioned concept, that innovates on the value network of SMEs, and based on data analytics, AR technologies, co-creation approaches and feedback management mechanisms, decreases costs of the design and manufacturing process and time to market of new products and supports toy manufacturers reach new markets.