|Description||Web community for scientists|
|Series A, 2/06 |
|Series B, 5/08 |
|Series B, 8/09 ||$7.3M|
|Venture Round, 10/11 ||$7.5M|
InnoCentive was founded in 2001 to help companies innovate better.
InnoCentive built the first global Web community for open innovation, enabling scientists, engineers, professionals and entrepreneurs to collaborate to deliver breakthrough solutions for R&D-driven organizations. InnoCentive Seekers, who collectively spend billions of dollars on R&D, submit complex problems to the InnoCentive marketplace where more than 180,000 engineers, scientists, inventors, business people, and research organizations in more than 175 countries are invited to solve them. Solvers who deliver the most innovative solutions receive financial awards ranging up to US$1,000,000.
InnoCentiveâ€™s Seekers include commercial, government and non-profit organizations including Avery Dennison, SAP, Procter & Gamble, Pendulum, Eli Lilly and Company, Janssen, Solvay and The Rockefeller Foundation. InnoCentive@Work, InnoCentiveâ€™s Software as a Service offering, helps organizations make the most of internal resources by uniting experts from all areas of a company in an open innovation environment that encourages cross-fertilization of ideas. InnoCentive makes it easy to get up to speed on either product with ONRAMP, an extensive set of tools, expertise and best practices designed to accelerate success.
InnoCentiveâ€™s strategic consulting offering helps organizations benchmark their open innovation readiness, develop custom innovation approaches learn how best to engage in the cultural and process changes necessary to be successful. For more information on InnoCentive, go to: http://www.innocentive.com/.
InnoCentive@Workâ„¢ is an internal web-based community, customized by InnoCentive for your organization. InnoCentive@Workâ„¢ bridges the silos in disparate R&D organizations â€” something software models can’t do. It applies your best internal resources to your organization’s hardest problems so they’re solved faster, better, and cheaper. Cross-fertilization of ideas and solutions can accelerate R&D by only â€œinventing the wheelâ€ once and by accessÂing the currently untapped value of your institutional experience and knowledge. Employees can see and collaborate on each other’s proposed solutions, so results occur faster and are more optimized â€” as measured by significant business impact, higher levels of solving activity, and freshness of thinking.
InnoCentive@Workâ„¢ isn’t just a tool. It’s a transformation in how organizations practice R&D. More than a web platform, it’s a comprehensive suite of offerings that help you create an internal web-based collaborative community for problem solvers. The technology is easy to use. And your proprietary informaÂtion stays safe through a secure website.
InnoCentive is the open innovation leader with years of experience and proven successes. As part of the implementation we help you: â€¢Develop Challenges â€¢Create a process for approving Challenges and reviewing submissions â€¢Utilize your internal reward currency â€¢Develop educational and communications materials â€¢Write policies for integrating open innovation into your existing processes
Later, as you gain experience with open innovation, we’ll also help you move problems from inside the organization to InnoCentive’s global scientific community of Solvers, further increasing the diversity of potential solutions.
ONRAMP (Open iNnovation Rapid Adoption Methods and Practices) helps to ensure your vision â€” from the â€œbig ideaâ€ to the final product â€” is embraced throughout your organization. ONRAMP gives you the tools you need for rapid adoption of an open innovation culture. Youâ€™ll inspire open innovation to accelerate R&D, produce breakthrough products, gain competitive advantage and speed time to market.
ONRAMP provides planning, education, communication and reporting services to help you manage the process, fine-tune your open innovation plan and measure the returns of your new innovation strategy. Realize the promise of open innovation and accelerate success with ONRAMP.
At any point in time, an organization may require different services from an open innovation provider. Does an idea need to be produced? If the idea exists, does its description, specifications or requirements need to be defined? Has it been prototyped and tested? And, if so, can it now be delivered as a marketable product or service? To meet the full range of solution requirements, InnoCentive offers four Challenge types:
The Big Idea: InnoCentive Ideation ChallengeSM A global brainstorm for producing a breakthrough idea. This could include ideas for a new product line, a new commercial application for a current product, or even a viral marketing idea for recruiting new customers. Get Started! Because this Challenge type does not require IP transfer, you can get started quickly with the simplified Master Services Agreement
The Design: Theoretical Challenge A design that implements an idea but is not yet a proof of concept. A solution to a Theoretical Challenge will solidify the Solverâ€™s concept with detailed descriptions, specifications and requirements necessary to bringing a good idea closer to becoming an actual product or service.
The Proof: RTP Challenge A prototype that proves an idea. Once you have a theory or design for a product or service, an RTP Challenge requests that Solvers prove their solution will work within your specific needs, decision criteria and manufacturing parameters.
The Final Product: eRFP Challenge A request for a partner or supplier to provide materials or expertise to help solve a business challenge. Utilize the InnoCentive network to find businesses or consultants that have already developed the technology you need or have the experience to help you develop it yourself. Get Started! Because this Challenge type does not require IP transfer, you can get started quickly with the simplified Master Services Agreement