The Ludwig Boltzmann Gesellschaft (LBG) organised jointly with the Austrian Council the event "Open Innovation: Benefits for Science and Society" on April 14, 2016. Prof. Helga Nowotny (Austrian Council), Prof. Eva Guinan (Harvard Medical School), Thomas Hanke, PhD (evotec) and Prof. Wolfgang Neubauer (LBG and scientist of the year) discussed about advantages and challenges of Open Innovation in Science.