Interplay between open vs. closed innovation and foreign market entry mode
: evidence from ThermalTech company

  • Margarida Luisa Dias Monteiro de Jesus Neves (Student)

Student thesis: Master's Thesis


This thesis intends to explore the interplay between open and closed innovation and how it influences the foreign market entry modes chosen by a multinational company. This study initially reviews the literature on the topics of open innovation, closed innovation, internationalization, and foreign market entry modes. Next, building upon findings from a single case study of ThermalTech- a multinational company in the fields of energy and building technology and after conducting multiple semi-structured interviews with managers operating in international environments, we found that ThermalTech tends to protect its intellectual property strongly by investing heavily on research and development activities in-house. However, it is understanding the necessity to adopt open innovation practices, namely in product development and foreign market access, in order to achieve further business growth and financial return.
Date of Award20 Dec 2022
Original languageEnglish
Awarding Institution
  • Universidade Católica Portuguesa
SupervisorBožidar Vlačić (Supervisor)


  • Open innovation
  • Closed innovation
  • Internationalization
  • Foreign market entry modes


  • Mestrado em Gestão

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