Offered here is a conceptual model that systematically describes the microfoundations of openness and innovation performance and thus the precursory requirements for any open innovation activity. The more refined perspective developed in this papers leads to a set of propositions regarding how individual characteristics influence openness and innovation performance and thus the open innovation activities of individuals. By deriving a model of search that considers how personal characteristics influence openness and innovation performance, this article offers three contributions as it strives to answer the following questions.(1) What are the microfoundations on which the phenomenon of open innovation rests? (2) What are the personal characteristics that determine heightened levels of openness and innovation performance in individuals? and (3) What are the normative consequences for managers who intend to engage in open innovation activities? Finally, the paper sets an agenda for future research in this area.