The purpose of this study is to discover the relationship of intrapreneurship, open innovation and organizational performance. For the empirical analysis, data were collected from convenient sample of 310 employees at small and medium enterprises in Busan. All collected data were analyzed using with SPSS 21. The results of this research as followed: firstly, the relationship between the intrapreneurship and the inbound open innovation is positively related. Secondly, there was a partial positive correlation between the inbound open innovation and the organizational performance. Finally, the open innovation played as a partial mediator on the relationship between the intrapreneurship and the organizational performance. Based on these results, researcher suggest the limitations of the study and directions for future studies.