Innocentive invites the public to contribute to corporate research

Posted on Tuesday 20 December 2005

Online company Innocentive is a forum that connects corporations with independent researchers and inventors, allowing individuals to reap rewards for solutions to companies’ problems. Founded as a start-up out of the company has a range of clients today: BASF, Novartis, Nestlé or Procter & Gamble. Through “Open Innovation”, these companies tap into the brains and ideas of inventors all over the world.

According to he, Visiting Scholar at an Open Innovation research group at MIT, this approach to innovation is most advanced in the sports industry, where products such as skateboards or mountain bikes have been co-developed with outside experts for a while already.

At Innocentive, prizes range from $ 10,000 to $ 100,000. So far, around 80,000 researchers and inventors have joined the community.