Evolution to entrepreneurial hospital led by open innovation: A case of Korean hospital industry

The role of hospitals as leaders of innovation in the bio health industry is emerging in the bio health industry. Hospitals are evolving from medical treatment-centered traditional hospitals to innovation-centered entrepreneurial hospitals that focus on research and development (R&D), and technology commercialization. A series of commercialized medical technologies by clinicians in hospital turns into business models in collaboration with firms. However, few studies have attempted a practical approach to entrepreneurial hospitals. Therefore, this study aims to explore the transformation of traditional hospitals to entrepreneurial hospitals through Korean hospital cases. This study studied the Korean government's initiatives related to supporting entrepreneurial hospitals. In addition, this study conducted interviews with key stakeholders involved in hospital-based innovation networks. Korea has been promoting entrepreneurial hospitals based on open innovation since 2004, and various government-supported projects have been carried out in parallel, making it suitable for examining the development trajectory and challenges from a research perspective. The findings of this study provide a theoretical framework for research on hospital-based open innovation.