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9 Ways to Ruin Your Open Innovation Challenge

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Insights on making prize challenges more effective and avoiding rookie mistakes.

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9 Ways to Ruin Your Open Innovation Challenge

  1. 1. 9 ways to ruin your open innovation challenge presented by CSW Global 2019
  2. 2. Agorize x CSW 2019 9 ways to ruin your open innovation challenge Aurelie Wen Managing Partner Agorize 600 challenges for 250 companies 5 million innovators 185 countries Hi!
  3. 3. Agorize x CSW 2019 9 ways to ruin your open innovation challenge 9 ways to ruin your open innovation challenge
  4. 4. Agorize x CSW 2019 9 ways to ruin your open innovation challenge We’ve all been there. What’s the fun in making no mistakes? :) Disclaimer
  5. 5. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #1 Launching a challenge for the sake of it
  6. 6. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #1 Launching a challenge for the sake of it Ask yourselves: • Objectives? • Target audience? • Problem(s) to solve? • Technologie(s) involved?
  7. 7. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #2 Figuring out the rules as you go
  8. 8. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #2 Figuring out the rules as you go Be transparent about: • Expected deliverables • Judging criteria • Timeline • Intellectual property
  9. 9. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #3 Going easy when recruiting participants
  10. 10. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #3 Going easy when recruiting participants It takes a village • Emailing, cold calling • Partnerships universities, incubators, accelerators • Social media, ads, PR • Live presentations and workshops
  11. 11. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #4 Setting high barriers to entry
  12. 12. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #4 Setting high barriers to entry Less is more • Open to all kinds of profiles • Broad geographical scope • Gradually increase complexity of deliverables
  13. 13. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #5 Keeping the IP to yourselves
  14. 14. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #5 Keeping the IP to yourselves Know your options: • IP kept by participants • IP shared with sponsor • Exclusive purchase of rights by sponsor • The exception of internal challenges
  15. 15. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #6 Picking the wrong judges and mentors
  16. 16. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #6 Picking the wrong judges and mentors Balance of profiles is key • Dreamers • Realists • Analysts
  17. 17. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #7 Making it all about competition
  18. 18. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #7 Making it all about competition What participants look for: • Opportunity to grow • Meet inspiring people • Solve issues, change the world • Be rewarded
  19. 19. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #8 Offering unfit prizes
  20. 20. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #8 Offering unfit prizes Prizes impact the number & type of participants • Min. $10k for first prize • Perks: experience, devices, recognition • Job/partnership opportunities
  21. 21. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #9 Neglecting the timing
  22. 22. Agorize x CSW 2019 9 ways to ruin your open innovation challenge #9 Neglecting the timing • ~4 weeks of preparation • ~8 weeks of promotion • Prime launch times: January / September • Avoid Summer for launch or finales
  23. 23. Agorize x CSW 2019 9 ways to ruin your open innovation challenge Be open topic, participants, scope Be organized 4 weeks to prepare, 8 weeks to promote Be generous judges, mentors, prizes, learning To sum up
  24. 24. Agorize x CSW 2019 9 ways to ruin your open innovation challenge ★ Bonus ★
  25. 25. Agorize x CSW 2019 9 ways to ruin your open innovation challenge Check-lists Hundreds of tips Real use cases eBook
  26. 26. Agorize x CSW 2019 9 ways to ruin your open innovation challenge 1. TARGETS  Students  Coders  Startups  Your Employees  Public  Other 2. JURY, MENTORS  Your Employees  Executives  Experts  Consultants  Entrepreneurs  Public  Other 3. DELIVERABLES  Ideas, Concepts  Usage Scenarios  Prototypes  Applications  Proof of Concept  Turnkey offers  Other 4. PARTNERS  Universities  Incubators  Accelerators  Tech companies  Consulting firms  Institutions  Other 5. FORMAT  Demo Day  24h Hackathon  48h Hackathon  Online Hackathon  Online-to-Offline Hackathon  Other Cheat-sheet to build your challenge
  27. 27. Agorize x CSW 2019 9 ways to ruin your open innovation challenge FIND SUPPORT IDENTIFY DECISION-MAKERS PRESENT A SOLID BRIEF BE CONVINCED & CONVINCING THINK ABOUT THE AFTER-CHALLENGE Convince your stakeholders
  28. 28. Agorize x CSW 2019 9 ways to ruin your open innovation challenge Aurelie Wen Managing Partner aurelie@agorize.com Thank you!
  29. 29. Agorize x CSW 2019 9 ways to ruin your open innovation challenge What is
  30. 30. Agorize x CSW 2019 9 ways to ruin your open innovation challenge … by providing PLATFORM COMMUNITIES SUPPORT + + Agorize is the leading platform for open innovation challenges. We connect organizations with a global community of 5 million innovators. Because the best ideas can come from anywhere.
  31. 31. Agorize x CSW 2019 9 ways to ruin your open innovation challenge Today, Agorize is: 8 YEARS OF HISTORY 100 EMPLOYEES 250 CLIENTS 600 CHALLENGES 5M INNOVATORS 185 COUNTRIES MULTI-AWARD WINNER RECOGNIZED INVESTORS $20M Montreal Paris Stuttgart Hong Kong Singapore Tokyo 6 OFFICES
  32. 32. Agorize x CSW 2019 9 ways to ruin your open innovation challenge 250 clients INDUSTRY BANKING & INSURANCE NEW TECHNOLOGIES MOBILITY ENERGY IT / TELCOS COSMETICS / LUXURY INSTITUTIONS MEDIA CONSTRUCTION & HOMES CONSULTING & LEGAL HEALTH RETAIL
  33. 33. Agorize x CSW 2019 9 ways to ruin your open innovation challenge Our markets Large-scale initiatives Collaborative marketing Shifting brand image Talent acquisition Talent retention Change management Crowdsource solutions Culture of innovation Find the right startups Innovation Marketing & Communication Talent
  34. 34. Agorize x CSW 2019 9 ways to ruin your open innovation challenge STUDENT CHALLENGE STARTUP CHALLENGE ONLINE HACKATHON EMPLOYEE CHALLENGE CLIENT/SUPPLIER CHALLENGE Omnichannel innovation platform Open InnovationInternal Collaborative
  35. 35. Agorize x CSW 2019 9 ways to ruin your open innovation challenge We provide turnkey challenges PLATFORM COMMUNITIES SUPPORT + +
  36. 36. Agorize x CSW 2019 9 ways to ruin your open innovation challenge Platform Integrated with Watch the Agorize admin interface HERE Watch the Agorize participant interface HEREMore info on our platform HERE
  37. 37. Agorize x CSW 2019 9 ways to ruin your open innovation challenge A unique network of 5 million innovators 3,000,000 STUDENTS 1,000,000 IT PROFILES 400,000 STARTUPS 800,000 EMPLOYEES
  38. 38. Agorize x CSW 2019 9 ways to ruin your open innovation challenge www.business.agorize.com Agorize North America – 201 rue Notre Dame O, Suite 500, H2Y1T4 Montreal, QC, Canada

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