| Sumario: | This paper aims to make a theoretical reflection on the academic debate that exists regarding whether internal and external innovation have a complementary or substitutable relationship, therefore, companies must analyze whether they should maintain a closed innovation approach due to the effect of substitutability or an open approach due to the effect of complementarity. For this, different empirical studies that contribute to these academic positions are analyzed, as well as the theoretical foundation that supports said positions. As a final reflection, it is found that in a context of globalization, companies cannot isolate themselves from the environment and from its increasingly rapid technological development. Additionally, the relationship of complementarity or substitutability between internal and external innovation will depend on the type of organization, as well as its resources and capacities to integrate external knowledge with its internal organizational processes.
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