The objective of this panel is to discuss how firms can operate both an open and agile innovation process. In an era of unprecedented changes, companies need to be open and agile in order to adapt rapidly and maximize their innovation processes. Proponents of agile methods claim that one of the main distinctions between agile methods and their traditional bureaucratic counterparts is their drive toward creativity and innovation. However, agile methods are rarely adopted in their textbook, “vanilla” format, and are usually adopted in part or are tailored or modified to suit the organization. While we are aware that this happens, there is still limited understanding of what is actually happening in practice. Using innovation adoption theory, this panel will discuss the issues and challenges surrounding the successful adoption of agile practices. In addition, this panel will report on the obstacles and benefits reported by over 20 industrial partners engaged in a pan-European research project into agile practices between 2006 and 2009.