Collaborative innovation refers to the process where individuals or organizations work together to create new ideas, products, or solutions. This approach leverages diverse perspectives and expertise, fostering creativity and enhancing problem-solving capabilities. By pooling resources and knowledge, participants can achieve results that may not be possible independently. This method is often seen in various fields, including technology, business, and education. Companies may collaborate with startups or research institutions to develop cutting-edge products, while educational institutions might partner with community organizations to address local challenges. Ultimately, collaborative innovation promotes shared success and drives progress.