In order to deal with current financial crisis attending private economy today, companies should first adopt survival strategies, and then plan long-term development on condition of global competition. This paper outlines how an open innovation initiative applies in development strategy to undergo ordeals and seek future growth. Three aspects used in conjunction suggest new thinking: firstly, the ignorance in technological innovation in private sector, secondly, highlights of the application of open innovation, and thirdly, the methods that help execute open innovation.