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Open Innovation
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Prospective clients often ask us to give examples of products directly resulting from our open innovation challenges. It’s natural to seek concrete examples of tangible products from these initiatives. It’s true that we have launched many open innovation challenges where a direct line can be drawn between a proposed solution and a new product or…
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The business value of open innovation lies in its ability to drive creativity, flexibility, and efficiency by leveraging external resources and perspectives. Through open innovation challenges for its customers, MindSumo provides benefits that include: Accelerated innovation cycles. Instead of relying only on internal R&D, enterprises can leverage external ideas to bring new products and services…
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Last month I talked about how AI can help you solve open innovation challenges as a research assistant and brainstorming partner. But there’s a dark side to AI in open innovation. While using AI more extensively in your solving activities might be tempting, this can be a big risk. 3 Risks of Using AI in…
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Used in the right ways, AI can be a huge help to any open innovation solver who is looking to get more out of the experience. Used as a productivity hack, including AI in your solving activities can: Make you much more efficient Streamline the solving process Help uncover new angles that you wouldn’t have…
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Stepping into the world of open innovation can be a novel experience, even for seasoned independent professionals. Success in this arena requires high levels of creativity, along with patience and the ability to roll with rejection. Top open innovation solvers have learned a lot on the way to success. Many have found that they need…
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If you have the characteristics of a successful open innovation solver, this world of solution crowdsourcing could be just the ticket. In addition to taking on new and exciting challenges, your participation (and winning solutions) can help you get noticed by potential employers, network with other solvers for business opportunities, and further establish your credentials…
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Adding open innovation to your independent business might seem daunting if you are just starting down that path. It can even be scary. While you may be an expert in your field, brilliant at writing winning proposals, and have mad marketing skills, open innovation solving requires that and more. With all your professional accomplishments, stepping…
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The world of open innovation is ready for more solvers to join in. If you have wondered if this is a world where you can be successful, here are some of the attributes that can lead to wins. With input directly from some of the top solvers in open innovation, they break into two categories:…
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As an independent professional, being an open innovation solver can be fulfilling. It helps create a new revenue stream and the satisfaction of contributing to a company’s strategic direction. You know how to write a winning proposal and you understand the importance of cultivating a good relationship with a client or prospect. This means…
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Innovation is requisite for successful competition. But even as enterprises recognize the need to innovate to stay relevant in continuously evolving markets, their intellectual capital is in danger of draining away due to factors like these: Layoffs. Over 3,150 US companies announced layoffs in 2022. As of the first quarter of 2023, over 972 firms…
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