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Table 5 Success factors of virtual R&D

From: Open innovation and external sources of innovation. An opportunity to fuel the R&D pipeline and enhance decision making?

Advantages of a virtual R&D organization Essential elements to operate a virtual R&D organization
Instant access to new technologies and external resources on demand Excellent industry and academic networks
Reduced capital requirements (overhead and infrastructure) Professional, project, portfolio and alliance management skills
Simple governance structure Simple governance structure
Reduced bureaucracy and faster decision making Collaborative scientific and medical support from those who understand drug development
Flexibility in selecting optimal services providers Excellent expertise in risk management and financial valuation
Mitigated financial risk Outperforming licensing and acquisition strategies and skills
Reduced time to market Admirable outsourcing skills
  Excellent communication and motivation skills to manage external project teams