5 Examples of Crowdsourcing in the Financial Sector

Posted by Scott Dooley on Sep 12, 2017 5:48:41 AM

Innovation in the financial sector has arguably lagged. Over time, hierarchical structures, regulatory pressure and “the way we’ve always done things” have propped up archaic practices which overlook customer experience in favour of stability and security.

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Topics: Innovation Insights

Customer Co-Creation: How Producers Can Benefit From Their Customers’ Creativity

Posted by Jo Edwards on Aug 31, 2017 3:35:50 AM

The model of production most established companies will be familiar with involves a series of basic steps. Beginning with market research – to identify gaps and test ideas – new products and services then move through phases that include research and development, creation and manufacture, and launch. The drivers are external and each element of the process is protected. However, this model is changing. Supported by enhanced access to information via the internet, low cost materials and tools, the development of online communities, and new technologies such as 3D printing, consumers can now play a much greater role in production. This article explores how, rather than seeing this as a threat to their bottom line, producers can benefit from this creativity and innovation.

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Topics: Innovation Insights

Defining Open Innovation, Crowdsourcing, and Crowdsourced Innovation

Posted by Graham Buchanan on Aug 22, 2017 10:37:40 AM

As an evolving, fashionable and relatively new field, Open Innovation is naturally packed with jargon and disputed definitions. There are different terms with the same meaning, the same terms with different meanings and terms being used entirely incorrectly. In this post I try to bring some clarity, referencing reliable academic and business literature where possible.

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Topics: Innovation Insights

The Extent & Form of Open Innovation Today

Posted by Adi Gaskell on Aug 10, 2017 10:43:38 AM

Whilst challenge prizes have existed for hundreds of years, the concept of open innovation came to widespread attention through the work of Henry Chesborough. His 2003 classic Open Innovation: The new imperative for creating and profiting from technology highlighted the considerable potential of a more open approach to innovation, and alongside James Surowiecki’s Wisdom of Crowds, which was published the following year, showed a new way of thinking.

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Topics: Innovation Insights

InnoCentive Partners with bauma Open Innovation to Solve Challenges in the Construction Industry

Posted by Jane Amero on Jul 31, 2017 11:29:22 AM

With the launch of the second Challenge on the bauma Open Innovation (OI) platform, we wanted to take the opportunity to highlight this exciting collaboration!  bauma is the leading trade fair for the construction and construction machinery industry and the world's largest trade show. The bauma Open Innovation initiative aims to extend the bauma experience for their exhibitors and attendees beyond the trade show, providing opportunities throughout the year for Solvers to tackle industry leaders’ problems, and connecting Seekers with innovative minds around the world. 

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Topics: Challenges, Seekers

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