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Purpose The open innovation (OI) paradigm suggests that firms should use inflows and outflows of knowledge in order to accelerate innovation and leverage markets. Literature examining how firms are adopting OI practices is rich; notwithstanding, little research has addressed this topic from the perspective of small- and medium-sized enterprises (SMEs). Given the relevance of SMEs in worldwide economies, the purpose of this paper is to provide a comprehensive overview of research on OI in SMEs. Design/methodology/approach In total, 112 academic articles were selected from the Web of Science database. Following a bibliometric analysis, the most relevant authors, journals, institutions and countries are presented. Additionally, the main areas these articles cover are summarized. Findings Results are consistent in that the most prolific authors are affiliated with the universities leading the ranking of institutions. However, it is remarkable that top authors in this field do not possess a large number of publications on OI in SMEs, but combine this research topic with other related ones. At the country level, European countries are on the top together with South Korea. Research limitations/implications Despite following a rigorous method, other relevant documents not included in the selected databases might have been ignored. Practical implications This paper outlines the main topics of interest within this area: impact of OI on firm performance and on organizations’ structure, OI as a mechanism to hasten new product development, the analysis of the inbound/outbound dimensions of OI, and legal issues related to intellectual property right management when OI is implemented. Originality/value The study uses a combination of bibliometric indicators with a literature review.

Open innovation allows information to be obtained by a company from outside in, and vice versa, in order to achieve improved relationships and better innovation performance in all parties involved in the business environment. This study explores how the adoption of an open innovation strategy changes the business model, specifically, in the case of small and medium enterprises (SMEs). Previous studies have mainly addressed this topic theoretically, and the original contribution of the approach in the present study stems from providing evidence from real cases. A multiple case study examines four cases in the automotive sector. A number of open innovation strategies are analysed, paying special attention to how they have shaped the company's business model and, ultimately, their impact on company performance. The overreaching conclusion is that the implementation of open innovation strategies helps companies to focus on its strengths and boosts them. This leads to a redefinition of the business model, so that they are better adapted not only to the essence of the companies but also to the demands of the market.