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Challenge
Experts then work with clients to decompose and formulate the problem or need as a Challenge. The problem or need is abstracted to allow for insights across industries, perhaps even one that shares the problem and has already solved it. The Challenge description clearly defines the problem or need, the solution and
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Challenges are posted, anonymously if the client desires, on InnoCentive.com. Typically users will submit their solutions over a period of 30 to 90 days. Deliverables vary depending on the type of
Challenge and can range from short proposals to experimentally validated solutions. After the client has
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platform that allows organizations to run private, internally focused
Challenge programs that engage their employees, partners or customers. The platform can be customized and branded as required. Employees are able to comment and vote on their colleagues’ ideas, suggest ideas for Challenges, and
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Premium
Challenges allow organizations to post their problems and needs to InnoCentive's problem solver network through the InnoCentive.com platform. Typically this process begins with a workshop led by InnoCentive in which appropriate problems and needs are identified. InnoCentive's PhD-educated
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Custom
Challenges come in two forms: Grand Challenges, which are high-profile Challenge programs that focus on a large problem, often calling for radical innovations and breakthrough solutions, and Showcase Challenges, which tend to focus on a specific sector and typically involve a live event.
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In 2006, Prize4Life partnered with InnoCentive to launch the $ 1 million ALS Biomarker Prize, which was a Grand
Challenge designed to find a biomarker to measure the progression of ALS – also known as Lou Gehrig's disease – in patients. In February 2011, the $ 1 million prize was awarded to Dr.
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to address. In the case of InnoCentive, the crowd can either be external (i.e., their network of over 380,000 problem solvers) or internal (i.e., an organization's employees, partners or customers). Awards, typically monetary, are given for submissions that meet the requirements set out in the
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Challenge description. The average award amount for a
Challenge is $ 20,000 but some offer awards of over $ 100,000. To date, InnoCentive have run over 2,000 external Challenges and over 1,000 internal Challenges, awarding over $ 20 million in the process.
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As of
September 2017, there were over 380,000 users from nearly 200 countries in InnoCentive's problem solver network. All users have separately and specifically registered with InnoCentive and report expertise in a variety of fields including
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of 74% with a payback period of less than 3 months from their work with InnoCentive". Another study conducted by
Forrester Consulting found that Syngenta achieved a return on investment of 182% with a payback period of less than 2 months.
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to add a non-profit area designed to generate science and technology solutions to pressing problems in the developing world. Between 2006 and 2009, The
Rockefeller Foundation posted 10 challenges on InnoCentive with an 80% success rate.
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during a session that was focused on exploring application of the Internet to business. The company was launched in 2001 by Jill Panetta, Jeff Hensley, Darren Carroll and Alpheus Bingham, with majority seed funding from
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participate in discussions on suggested Challenges and awarded submissions. The awards mechanism works slightly differently to Premium Challenges, tying into the organisation's existing benefits program, for example.
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Seward Rutkove for his creation and validation of a clinically viable biomarker. In early 2011, InnoCentive launched four more Grand Challenges on behalf of Life Technologies.
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449:"Accelerating Innovation for Development: The Rockefeller Foundation and Inno-Centive Renew Partnership Linking Nonprofit Organizations to World-Class Scientific Thinkers"
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finished evaluating the submissions and selecting the winners, InnoCentive handles the administration of award payments and IP transfers or licensing.
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of New York. In December 2006, shortly after Dwayne Spradlin took the helm as CEO, the company signed an agreement with the
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Level or above. InnoCentive have a number of partnerships that allow their clients access millions more users.
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662:"The Total Economic Impact™ Of InnoCentive's Enterprise Solution: Challenges, InnoCentive@Work, And ONRAMP"
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The idea for InnoCentive came to Alpheus Bingham and Aaron Schacht in 1998 while they worked together at
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requirements, and the award amount that will be paid out for winning submissions.
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In 2005, InnoCentive was spun out of Eli Lilly with investments led by
343:"Defining Open Innovation, Crowdsourcing, and Crowdsourced Innovation"
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Alpheus Bingham (Founder and Board of Directors member)
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296:In 2016, 80% of Premium Challenges were awarded.
199:In February 2012, InnoCentive acquired UK-based
719:Privately held companies based in Massachusetts
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303:found that "the hygiene and health company
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471:"InnoCentive Acquires OmniCompete Limited"
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714:Open innovation intermediaries
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709:Social information processing
635:Bishop, Michelle (May 2009).
284:. Nearly 60% are educated to
242:InnoCentive is a SaaS-based
93:and Chief Executive Officer)
33:Crowdsourcing, Cloud Labor,
554:"Custom Challenge Programs"
132:http://www.innocentive.com/
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530:"Premium Challenge Types"
112:inducement prize contest
612:"InnoCentive Partners"
274:information technology
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299:A study conducted by
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207:Products and services
178:Eli Lilly and Company
173:Eli Lilly and Company
108:Innovation management
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43:innovation management
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301:Forrester Consulting
47:product development
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583:"InnoCentive@Work"
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201:OmniCompete
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698:Categories
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597:2017-09-15
568:2017-09-15
539:2017-09-15
434:2017-09-15
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398:"About Us"
380:2017-09-15
353:2017-09-15
328:References
270:statistics
82:Key people
258:chemistry
251:User base
39:R & D
316:See also
282:business
104:Products
30:Industry
286:Masters
167:History
152:Waltham
126:Website
69:Waltham
53:Founded
305:Essity
156:London
142:is an
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