University libraries can be powerful cornerstones of an open innovation ecosystem for entrepreneurs. They are a source of worldwide market research for entrepreneurs looking to expand outside national borders with their existing enterprises. Social networking sites (SNS), which have been widely adopted by libraries as a means of engaging with students, are increasingly being utilized to provide market information to business communities. SNS can assist startups in forming and maintaining strong strategic ties with libraries to obtain ongoing support for globalization efforts. This column discusses the numerous benefits and some problems of using social media to develop such collaborations, particularly in terms of giving useful market insights to entrepreneurs (implementing partnerships). The issues of SNS adaptation for developing such relationships can be addressed with prototyping technologies. To address the needs of global startups, libraries must take advantage of social network access, overcoming the need for meetings on library grounds. To do so, thorough integration of SNS with library business activities is required, which is, regrettably, only observable in a few circumstances. University libraries are boosting their use of SNS to provide more online support for the business community.

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Globalization,Startups,Libraries,Social networking sites,Prototypes,Business model innovation

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