Category Open Innovation

Big Risk, Big Reward with Openness

Silicon Valley: Risk is the Reward

“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 Today, some of the hottest business models under the microscope in the Valley are multi-sided platforms (MSPs) which include talent and funding marketplaces like crowdfunding, crowdsourcing, […]

Crowdfunding is 4x hotter than crowdsourcing but hybrid models are the real story

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 “Outpost” allows companies to crowdfund – But can’t they already?

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. […]

GE Unveils Global Finalists for its Open Innovation Jet Engine Design Quest

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 […]

Appirio Buys TopCoder: Consolidating the Crowdsourcing + Open Innovation Developer Community

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: Facilitating Customer Insights via Online Communities

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 Teams with NASA and National Geographic

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 […]

10 Trends in Open and Collaborative Innovation

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 […]

Lessons Learned By A Major Automaker with a Kickstarter-like Inititative

A recent interview with an Innovation Manager at one of the major US based automakers led to discussions on a Kickstarter.com-like challenge they ran with employees. The goal was to enable their workers, those that make and market their automobiles, to develop innovations from the front lines. Employees formed small teams, developed their ideas, and submitted […]

Crowdsourcing Weather

Here’s a great example of a company using existing networks to generate value. A team of app developers and weather experts discovered a way to use the temperature sensors built into smartphone batteries to crowdsource weather information. Tiny thermometers usually prevent smartphones from dangerously overheating, but the researchers discovered the battery temperatures tell a story […]

Co-Creation and Open Innovation – A Primer

HYVI Innovation posted this short video a few years ago on open innovation accomplished with customer co-creation – it’s worth a watch for a number of examples of how firms have leveraged customer feedback and empathy improve products or services. Related articles How Top Enterprises Are Utilizing Open Innovation (openinnovation.net) How Top Enterprises Utilize Open […]

Co-Creating Sustainable Cities with Open Innovation

Video from the Future Cities Technology Showcase – part of the Open Innovation 2.0 event. This is a collaborative effort between Intel, the European Commission, the City of Dublin, and a number of other organizations. The goal of the event is to encourage open collaboration for conceiving solutions for sustainable urban planning and development. Technology […]

Harvard xDesign Challenge is the fusion of business and design

The Harvard xDesign conference didn’t disappoint. A collaborative effort between Harvard Business School, Harvard Graduate School of Design, and the Boston community, the event featured a speaker series and adjacent workshop in design thinking strategy. The workshop was a welcome exercise utilizing design thinking methods to solve societal problems – the challenge this year focused […]