Too often, designers and engineers assume that to build something really innovative, you have to create it from the ground up. Especially for technology start-ups, this is a very dangerious ideology to entertain. Many of the best products are the intelligent merger of proven technologies. Regardless, it's still rare to see a really beautiful design come from a consortium of companies -- too often it devolves into design-by-committee.
Electronics Design Chain Magazine has a terrific story on the development of Apple's portable MP3 player: Inside the Apple iPod Design Triumph. Not only did Apple create a groundbreaking product with relatively little custom design or production, but they accomplished it by leveraging the intellectual power of a consortium of technical firms, leveraging the unique experience of each company. Amazing to read about, and something to keep in mind if you're at a company that builds consumer products.