In this chapter, we present the activity Develop strategy. The goal of the activity is to develop a strategy that guides the organisers on how to strategically manage the post-contest phase to balance value creation, value capture, legitimacy, and long-term innovation outcomes in open innovation settings. First, we discuss strategic options for the post-contest phase. The strategic options range from not establishing relationships at all to providing substantial support for selected participants, enabling close and long-term relationships. Then we present the activity with running examples for different strategic options. Finally, we give some suggestions for further reading.