InnoCentive

Two New Concepts for InnoCentive

Crowdsourcing Open Innovation

Crowdsourcing

Crowdsourcing Obtaining needed services, ideas, or content by soliciting contributions from a large group of people, and especially from an online community, rather than from traditional employees or suppliers.

The 1st crowd-

sourcing project Crowd-fundingAmazon

Mechanical Turk

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• Mechanical Turk

• Wikipedia, Yahoo! Answers

Open Innovation

Open InnovationInnovating with partners by sharing

risk and sharing reward.

Innovation

networks

Product

platformingCustomer

immersion

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History

2001Funded by Eli Lilly and Company as a spin-off from its “application of internet

to business” project

2005Funded by Spencer Trask.

2006Added non-profit segment by Rockefeller Foundation. Partnered with Prize4Life

to launch the $1 million ALS Biomarker Prize.

2011Awarded the $1 million prize, and launched four more Grand Challenges on behalf of Life Technologies.

History

Outsourcing

the R&D of medicines to

universities

Other technologies

Non-profit Light Up Africa Oil Spill Recovery

$1M ALS

Biomarker Prize

2001 2005 2006Science Fiction

for future

healthcare

InnoCentive Services

Biz Model

Core: electronic marketplace

InnoCentive

R&D

Solution

Seekers

Global

network

of Solvers

Open Innovation Marketplace

Two-sided:

- Seekers with difficult R&D problems- Solvers who want to stay focused

To Seekers:- A large solver pool- Better budget control

To Solvers:- Can focus on topics they feel interested in Own website

membership

Fee from seekers

Website maintenance

Human

Connections and

reputation

Project coordinationSeekers

Solvers