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Multinational enterprises are expanding their global reach to new and diverse emerging economies, and there is a strong need for multinational enterprises to tailor their products (services) to those local preferences. Traditionally emerging economies have not been front runners in the innovation landscape. However, the unique opportunities offered by these emerging economies have encouraged multinational enterprises to develop innovative products (services) and/or innovative business models that will appeal to these new market economies. This paper pays particular attention to multinational enterprises working within the South African business environment. The research addresses the question - what key factors are required by a multinational enterprise to successfully implement and manage collaborative innovative products (services) in developing economies? This paper structures the KSFs for collaborative innovation into a multi-level model then explores a case study within South Africa where a multinational enterprise has had resounding success with different collaborative ventures. Each of the key success factors will then be discussed in depth to understand why they are vital for successful collaborative innovation.