Open Innovation Meets Web 2.0
Well, a couple of new companies are taking it a step further, creating online communities based around open innovation:
Fellowforce allows organizations to post "challenges" -- problems for which they are looking for innovative solutions to -- for a fee, paid to Fellowforce. "Fellows" (basically, anyone who wants to submit ideas) join the site for free, review challenges, and submit their ideas. The company rewards the contributors of the top ideas, generally with compensation of cash and/or stock - usually a few hundred dollars, but in some cases several thousand dollars. As an example, Fellowforce themselves are currently holding a "tagline" challenge (suggest a tagline for Fellowforce). The winner receives 1% ownership in the company. Fellows can also post innovative ideas for companies to review and consider. Learn more about how it works and review some of the open challenges before signing up.
Spigit is a more social-based application than Fellowforce, and combines game theory, the wisdom of the crowds and social networking to create an experience that is both fun and productive. Companies and individuals can post their ideas and then use Spigit's simulation engine to "build and refine an idea, find the right resources to contribute, create buzz, and calculate a multitude of targeted metrics to provide insight into viability and simulate the likelihood of success." Spigit doesn't provide monetary rewards, but instead focuses on using the tool to build your reputation and your professional network -- "networking with a purpose", I would call it. You can, though list your product or service for free in their marketplace. The site is in beta and is a little buggy in Firefox, but I was hooked within the first few minutes.
Of course, there are other communities where open innovation is going on, even if informally. LinkedIn Answers has become a popular place to post questions and get thoughtful answers from peers, and many people are using it as a source for innovation, as well as market research and validation.
So whether you're seeking innovative ideas for your business or looking to participate in the innovative process for others -- for friendship, fame or fortune -- there's a growing number of opportunities available to you.
Comments
I find the development of ‘web 2.0′ very exciting. There are so many tools online today that can make our lives easier that most didn’t have access to before.
Like you mentioned, we can now connect with people around the world in communities to discuss ideas, have access to opportunities and help others like never before.
It’s exciting to watch the mechanics of business changing right before our eyes!
Another great tool for innovative thinking, social networking, foundational relationship building (that is what I call connecting) is http://www.marketingprofs.com/.
You may create a free account that allows you to ask and answer questions. You earn points each time you participate in displaying your expertise and can use those points to ask more questions.
They also offer a Premium account for a very reasonable annual rate which allows for total access to a library of articles and other resources.
Have a great day!
Roberta E. Eastman
Thanks for sharing that, Roberta. I’ve read some great stuff at MarketingProfs before, but I didn’t realize they had a free membership like that.
I am also on Marketingprof, and people have found my ideas useful. It is a good tool for gathering advice. You might also be interested in checking out brainreactions–we have online brainstorming on our .net site and offer companies direct access to gen-Y brainstormers at out .com website.
A couple of additional social networking venues everyone may find helpful is Ecademy http://www.ecademy.com. They have a free account, as well as paid membership.
Clubs, a marketplace and opportunities to network are available. Within an hour of filling out the profile there were four visits to the profile and a message in the inbox.
http://www.xing.com/ is another free networking and meeting place. This venue is very global and geography will have no boundaries.
I would also like to share that we may want to anchor ourselves for a time in a venue or 3 and get to know the people that are in the environment.
It would better serve to be able to share 2-3 times a week in once place than once a month due to having so many places to share in.
Once the the solid relationships are built in one place, set up a Keep in Touch system and add another networking opportunity to the list.
Best wishes in building foundational relationships.