Purpose - The paper discusses an Open Innovation initiative within a high-tech cluster (semi-conductors, microelectronics, nanoscience) in Dresden, Germany. The initiative was started one year ago by a consortium of R&D managers of business corporations, university researchers, and the local city administration in order to enhance the R&D power of the city and region, and thus trigger economic development. However, the full potential of this setup has yet not been exploited. In terms of innovation dynamics, inter-corporal cooperation, and effective technology transfer from science to industry, a full range of opportunities is still not activated. Therefore the aim was to cultivate new and interdisciplinary technologies for this local innovation system. Design/methodology/approach - The paper based on activities and experiences in the on-going cluster innovation project. It reviews the results of a number of innovation and creativity workshops, connects them to recent studies in innovation and cluster management. From a single-case based explorative study, an outline is sketched for an open innovation process, based on a set of collaborative actions. Originality/value - We transferred the results into a detailed innovation process which allows estimating the right "time" for open innovation in a multi-partner and interdisciplinary environment. By this, insight was gained how to design, change and manage such processes dynamically. Practical implications - The project provides first-hand experiences and insight into the challenges of innovation and technology management in a local innovation system. It lines out the problems and obstacles encountered when trying to implement Open Innovation policies in a multi-partner and interdisciplinary business environment. In general, it presents a successful case study, and describes new measures, methods, and instruments how to cope with the challenges of such endeavours.