Nowadays possibilities of information and communication technologies facilitate the use of IT-based tools for integrating external innovators into the innovation processes of organizations. These tools, such as innovation communities, innovation contests, innovation toolkits, and innovation market places are subsumed under the term open innovation platforms (OIPs). Despite the existence of numerous insights into OIPs, a dedicated approach on how to manage an OIP throughout its lifecycle has been missing so far. Stefan H. Hallerstede addresses this gap and develops a lifecycle management model for OIPs. He merges knowledge on information systems with findings from open innovation literature. In addition, he introduces the major players in the market. The study is built on three in-depth cases of professional OIP lifecycle management and elaborates guidelines for managing each phase within an OIP’s lifecycle.   Contents n  Model of OIP lifecycle management and activities in each phase n  Process of designing an OIP from a socio-technical perspective n  Challenges in the lifecycle of OIPs and mechanisms to cope with them n  Typology of OIP projects n  Functions of open innovation intermediaries   Target Groups ·         Researchers and students in the field of information systems, open innovation and innovation management ·         Practitioners in the field of innovation management and IS management as well as all those involved in IT-based open innovation   The Author Dr. Stefan H. Hallerstede was a research associate at the chair of information systems I (Prof. Dr. Kathrin M. Möslein) at the Friedrich-Alexander-University of Erlangen-Nuremberg. He additionally worked as an independent IT consultant.   The Editors The series Markt- und Unternehmensentwicklung / Markets and Organisations is edited by Prof. Dr. Dres. h.c. Arnold Picot, Prof. Dr. Prof. h.c. Dr. h.c. Ralf Reichwald, Prof. Dr. Egon Franck and Prof. Dr. Kathrin M. Möslein.