Through an open call, progressive organizations can fast-track R&D and traditional product development by reaching out to some of the world's most creative thinkers—icitizens who thrive on solving tough challenges and accelerating change.

1. Tom Venable, Executive Vice President, InnoCentive, Inc

2. The Answer is Often Where You Least Expect It

4. “ I not only use all the brains that I have, but also all that I can borrow” Woodrow Wilson An Early Open Innovation Leader

5. Closed vs. Open Innovation Source: www.wikipedia.org

9. The “Long Tail” of Innovation

10. Prize Based Innovation gets Market Recognition

11. A networked army of creative minds The Best Solution is Awarded a Cash Prize You Only Pay if Someone Provides a Solution Internal R&D Staff Prize Based Approach to Open Innovation Prize Based Innovation taps the worlds vast pool of intellectual capacity, creativity, and ingenuity

12. Prize Based Open Innovation Marketplace InnoCentive is the global innovation marketplace where creative minds solve important challenges in commercial, governmental, and humanitarian organizations. Companies or “Seekers” anonymously post problems on the InnoCentive.com, while “Solvers” submit their solutions in a bid to capture a cash prize ranging from $5,000 to $1,000,000!

13. Product Development Life Cycle & InnoCentive Internal Sources Employees Databases External Sources Customers Partners Internet Patent Searches Competitive Info Front-End of Innovation New Product Development Launch to End of Life $ $ $ $ $ $ $ $ $ $ $ $ $ Ideation Theoretical

14. Who’s Doing it? (Sampling)

15. Website Tour – Multiple Paths to Challenge

16. Examples of Use

17. Prize Based Innovation Case Studies

20. The Answer is in Left Field – a case study Construction Materials Food Processing Alternative Energy

21. Open Innovation Leadership

24. Open Innovation – Implementation Strategy

25. Key Learnings and Recommendations Plan with realistic expectations and time horizons This is a transformation, not an implementation! (remember eMail, ERP and business process outsourcing) 1-2 years 3-10 years? OPEN INNOVATION CAMPAIGN