This chapter provides a systematic review of the open innovation (OI) research carried out within the context of small and medium-sized enterprises (SMEs). The chapter should provide an accurate understanding of current literature about OI in SMEs, and it elaborates many future research avenues. The recent increase in the number of publications in this field shows that it has gained the attention of the academicians. The existing research shows that SMEs organize and manage OI in an entirely different way from large companies. SMEs get involved in OI based on their own strategic needs, and OI mechanisms have to be designed differently for SMEs.
The chapter maps the research through Web of Science — Core Collection database. We investigated the “OI in SMEs” literature from January 2003 till June 2017. A total of 118 articles, eight book chapters, and six books are analyzed. The discussion is mainly categorized into six broad themes: adoption of OI, the benefits of OI, challenges, role of networking, sectoral patterns, and the role of policymaking. The chapter concludes with several avenues for future research in the field.