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InnoCentive“Where the World Innovates”

Presented By:Sruthy MohanAida Ann Issac

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About The Company

• InnoCentive Inc.• Private Crowdsourcing Company.• Inno for Innovation and Centive for Incentive• Headquarters: Waltham, Massachusetts, US• Website: http://www.innocentive.com/• 3,55,000 users from 200 countries [as of

January 2014].

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How It Works

• Service - “Challenge Problems” for anyone to solve.

• Company’s contract with InnoCentive.• Solvers give solutions• Company reviews the solutions and selects the

best solution.• InnoCentive awards the best solver (cash awards).

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Reward

• Best solution reward:– $2000 to $1million.

Benefits To Company

• Do not have to hire any staff for problem solving.• Less expensive than other consulting companies.• Has access to large database of innovative thinkers.

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Benefits To Solver

• Earns money if one gives a good solution.

• Access to large data base of companies in the same field.

• If rewarded, gains fame.

•Maintains anonymity of solvers.

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InnoCentive as a KM Tool

• Creates a virtual network connecting people and companies.• Promote collective knowledge and improves quality.• Promotes sharing of knowledge through collaborative sharing.• Solutions come from experts outside your organization.• Access to knowledge at a very low cost.• Wide number of solutions to choose from.

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Home Screen

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Statistics

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Challenges Tab

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Solvers Tab

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Resources Tab

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Top Solvers List

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Partners

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Thank You