The world has changed rapidly in the last few decades; with the democratisation of the internet and information, the firm’s boundaries are no longer visible. Knowledge creation inside the firm is still a valid method for innovation. However, with increasing costs over R&D and the concept that knowledge is everywhere, it is also safe to assume that it will be possible to reduce expenses by integrating outside knowledge to speed up the innovation and product development cycles. Moreover, the new paradigm of open innovation was born to help the firm use internal and external sources of knowledge to obtain a definite competitive advantage. This work aims to perform a systematic literature review that analyses the evolution of the Open Innovation Strategy by using the WOS database. 40th articles were analysed from 1989 until 2017; this resulted in the work being grouped into 4 clusters according to their contribution to the comprehension of Open Innovation Strategy: i) Knowledge base view, ii) Networks & Knowledge management, iii) Business Model, iv) Types of innovation.

Keywords: democratisation; internet; change; Open innovation; KBV; Networks; Business model