This panel intends to set the ground for developing a theory of technology affordances for virtual collaboration based on the situational/contextual characteristics of virtual organizations (such as virtual teams). We will attempt to establish the specific situational contexts (e.g. extent of cognitive diversity, high innovation tasks, temporal distribution of virtual collaborators, etc.) in which specific technology affordances are more useful than others. Overall, we hope to establish a paradigm of ?situational characteristics - collaborative technology affordances? match which builds on the 'task-technology' fit paradigm. Our panel will benefit researchers who are focused on virtual organizations as well innovation in globally distributed settings. The panel discussion will impact research on virtual organizations in general, and more specifically virtual teams. We also see the discussion in the panel informing open innovation efforts that have so far focused on incentive structures. Technology platforms with multiple affordances have the potential to alter the landscape of open innovation research. We hope to initiate this change and set an agenda for future research into fertile area of virtual open innovation.