Your SlideShare is downloading. ×
  • Like
  • Save
Innocentive - Business Innovation
Upcoming SlideShare
Loading in...5

Thanks for flagging this SlideShare!

Oops! An error has occurred.


Now you can save presentations on your phone or tablet

Available for both IPhone and Android

Text the download link to your phone

Standard text messaging rates apply

Innocentive - Business Innovation


This is business innovation group work which was done.

This is business innovation group work which was done.

Published in Business , Technology , Education
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads


Total Views
On SlideShare
From Embeds
Number of Embeds



Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

    No notes for slide


  • 2.  Founded by Eli Lilly & Co. in 2000. Virtual portal Platform that allows “Seekers” to get connected with “Solvers” Seekers - Firms having problems/Challenges Solvers - One who submits solutions Charged seekers for posting the challenges and derived commission. IC Solvers worked independently. Anonymity is given importance.
  • 3.  Challenges were in 6 domains Life science Chemistry Physical Science Engineering/Design Math/Computer Science Business/Entrepreneurship. RTP: Solvers need to provide the original work & detailed experimental results. Paper/Theory: Papers Submissions along with research work. Brainstorming Challenges: Brief Submissions & Guaranteed winner. No transfer of IP. eRFP: Cost effective approach challenge for Product & Service requirement
  • 4. Defining community & collaboration for Innocentive solvers..
  • 5.  No Local-search-phenomenon. Solvers from different background & countries & expertise. • Number of ways to solve the problem increased. • Average 10 Submissions for 1 Problem Seekers perspective - From having problem to evaluating Problem. IC played a pivotal role in articulation of challenges - Provided clear criteria for judging. Ex: Dual Use Off Grid Illumination Device Solvers have to work on the constraints which are given by seekers. Less investments in R & D for start ups. Add – on for the company’s in-house research team. One payment – No holding positions. Quicker – Lucrative (Sub – Optimal Solutions) - Diversified
  • 6.  Monetary Rewards - (As high as $20,000 and Beyond) Personal Satisfaction of providing solutions to difficult problems. The challenge of solving puzzles.
  • 7.  Problem / challenge that needs innovative idea to resolve. Problemwith multiple solution: To select the best among them. Problem that cannot be solved internally, so needs external support. Ex – Oil spilling in sea.
  • 8.  Visibility of Solvers among web communities. Late submissions: Multiple views will take much time to reach a conclusion Spending time on managerial roles: That time can be utilised by working on the solution. Power and domination problem may arise among solvers. Intra group disputes on payment or decision. Low morale – Approval of one’s idea by team would create chaos. Problems in IP sharing Problem (Can be solved with one suggestion by solver 4)
  • 9.  If organized well – Faster problem solving Better quality of solutions More Global exposure for InnoCentive. Solvers coming out of their domain and innovate more. (Dr. Shekar Khonjeti – Personal Profile) Provision for help - Contributing for other solvers’ interest. Solutions made through “wiki” – Can be improved by others. Ability to expand the platform more than the existing six domains.
  • 10. Presented By:Siva Priya SMegha S TomarSonia MalhotraKaveri SethManu KanchanMegha Dhingra