A short introduction to InnoCentive

1. InnoCentive

2. Two New Concepts for InnoCentive
Crowdsourcing Open Innovation

3. Crowdsourcing
Crowdsourcing Obtaining needed services, ideas, or
content by soliciting contributions
from a large group of people, and
especially from an online community,
rather than from traditional
employees or suppliers.
The 1st crowd- Amazon
sourcing project Crowd-funding Mechanical Turk

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• Mechanical Turk
• Wikipedia, Yahoo! Answers

5. Open Innovation
Open Innovation
Innovating with partners by sharing
risk and sharing reward.
Innovation Product Customer
networks platforming immersion

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7. History
2001
Funded by Eli Lilly and Company as a spin-off from its “application of internet
to business” project
2005
Funded by Spencer Trask.
2006
Added non-profit segment by Rockefeller Foundation. Partnered with Prize4Life
to launch the $1 million ALS Biomarker Prize.
2011
Awarded the $1 million prize, and launched four more Grand Challenges on
behalf of Life Technologies.

8. History
Outsourcing Science Fiction
2001 2005 2006 $1M ALS
the R&D of for future
medicines to healthcare Biomarker Prize
universities
Other technologies
Non-profit Light Up Africa Oil Spill Recovery

9. InnoCentive Services

10. Biz Model
Global R&D
network Open Innovation Marketplace Solution
of Solvers Seekers
InnoCentive
Core:
electronic marketplace

11. Project To Seekers: Two-sided:
Seekers coordination - A large solver pool membership - Seekers with
- Better budget difficult R&D
Website control
problems
maintenance
- Solvers who
Solvers want to stay
To Solvers:
- Can focus on focused
Connections
topics they feel
and interested in Own website
reputation
Human Fee from seekers