Big Risk, Big Reward with Openness

“The biggest risk is not taking any risk… In a world that is changing quickly, the only strategy that is guaranteed to fail is not taking risks. -Mark Zuckerberg, Facebook founder Silicon Valley is a physically beautiful place surrounded by mountains, forests, and the ocean. It’s also a hub for Open Innovation and risk-taking driven by […]

Uber's anti-Lyft "Shave the Stache" campaign

Uber is a multi-sided platform for ride-sharing. Potential passengers connect with taxi drivers using a smartphone app where gps location sharing, pickup timing (typically within 8 minutes of request), and payment are all executed online. No money exchanges hands. Drivers qualify to pick up riders after completing some basic paperwork and training, which may or […]

Crowdsourcing isn’t new, just look at the pyramids. The essence of crowdsourcing is splitting a large task into micro-tasks for others to accomplish. This is powerful because it (hypothetically) lets you accomplish large labor-intensive tasks relatively easily; certainly there are challenges. Crowdfunding works the same way; individuals or companies can raise large sums of money […]

Indiegogo, one of the world’s most popular crowdfunding platforms, has just announced that it will release a new product called “Outpost” that allows companies to integrate the platform into their own websites. Firms can use crowdfunding to raise capital for socially-driven projects, gauge demand for new products, or work with the crowd to develop their products. […]

Fidelity_Center_for_Applied_Technology

The Fidelity Center for Applied Technology (FCAT) is the innovation lab of Fidelity Investments. FCAT’s role is to explore new technologies and methods on behalf of the functional business units at the company. In 2013, FCAT began discussing the idea of starting an internal “Kickstarter” program and assigned me to prepare the research. My boss […]

All the buzz about crowdfunding regualtion in the Jumpstart Our Business Startups (JOBS) Act needs clarification, though as you’ll see the lines are still very hazy. Comments on these provisions are due in February 2014. Below are key excerpts to help clarify what’s currently in place as of 10/23/2013. This comes directly from the Harvard Law School […]

As a first time Design Management Institute (DMI) participant, I was pleasantly surprised to see Don Norman give the opening keynote at the Experience Innovation conference in Boston earlier this month. Norman wrote the Design of Everyday Things 25 years ago, and he has served as a advocate for design in business ever since. His […]

Here’s a blog post from Entrepreneur.com that discusses the same issues that I touched on in my recent post: Why Equity Crowdfunding Isn’t a Threat to Venture Capital | Entrepreneur.com. The JOBS Act has effectively loosened restrictions on equity-based investing in startups via crowdsoucing, but will this take the place of Venture Capital? This blog […]

wefunder.com crowdfunding

Time magazine recently posted an article on the growth of the ‘crowdfunding economy’ enabled by the 2012 Jumpstart Our Business Startups (JOBS) Act, which passed through the federal government with bipartisan support and was signed into law by President Obama. Under JOBS, companies can sell ownership shares to investors via websites and social media channels […]

TheGrill: Indiegogo Co-Founder – Hollywood Will Permanently Adopt Crowdfunding (Video) – TheWrap.

Why should you care about crowdfunding? Because you can fund anything, including your personal life! Do you have a project you’ve been working on or a cause you’d like to support? Make it happen quickly and socially with sites like kickstarter.com or fundanything.com. This ability for literally anyone to gather funds from friends, family, and […]

Check out this kickstarter campaign for a Harvard online (free) neuroscience course. It’s a Massively Open Online Course (MOOC) through edX.org – they want to leverage crowdfunding to provide all the students with tools to perform experiments at home, bringing science to the masses. Pretty cool – check it out. What else is possible when […]

Honesty pays, thanks to the crowd! A Boston homeless man found a backpack full of $40K… and he returned it! After his kind act, a total stranger created a crowdfunding page for him on gofundme.com. The campaign raised $76K! Talk about a good return on your decision. Crowdfunding raises more than $76k for homeless good samaritan […]

Even GE uses Open Innovation – in this case with a design contest and $20K in cash prizes for whoever can design the most effective jet engine. This represents a fundamental shift in the ways firms innovate – reaching outside the company walls for new ideas is becoming ever more common. GE Unveils the Ten […]

Continuing the trend of consolidation in the open innovation industry, Spigit (a leading idea management platform) has merged with Mindjet (a task management and workflow platform). The merger represents a larger trend towards platformization of innovation – applications that large corporations can build into their day-to-day architecture and processes and scale up in order to […]

San Francisco-based Appirio just acquired Topocder, adding 500k developers to the TopCoder.com community and effectively cornering the crowdsourced development market – at least according to zdnet.com. I’m skeptical about how ‘cornered’ the market is, since the community can simply leave at will. Regardless, consolidation is an interesting direction for the crowdsourcing + open innovation market […]

Communispace is a market research firm that enables customer insights directly from the source – they don’t just provide research, they facilitate the formation of online user communites for brands to speak directly with customers in a conversational format. By developing a social media platform where customers are pooled together by common interest or buying patterns, brands can […]

TopCoder is teaming up with NASA (again) to continue to accelerate the pace of space exploration. TopCoder is a crowdsourcing and open innovation platform that allows individuals or companies to post ‘contests’ for the TopCoder community to tackle. Users from around the world compete for the business – it’s a competition, only the best submission […]

The top 10 trends in crowdsourcing, collaboration, and open innovation (as reported by innovationmangement.se) Here are the trends summarized with some thoughts added: Emergence of in-house innovation teams – the field of innovation management is becoming more mainstream. Co-creation process using hybrid models – firms are learning from others and experimenting with various aspects crowdsourcing […]

Check out this Indiegogo project happening now to fund the creation of a mini-floating city. They’ve just met their $20K goal, and still have 6 days left in their crowdfuning campaign. Pledges go to pay experienced European designers to develop the project state-side. I find this very interesting because it’s not just about funding, it’s […]

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