Innovation facilitators are developing open innovation communities focused on matching technology seekers with technology providers. This matchmaking is completed through innovation market places and exchanges where seekers, providers and enablers share their capabilities, needs, and solutions. The exchanges promote Innovation Challenges and Collaborative Request for Proposals to accelerate the innovation community participation and communication.
Innovation Challenges are open competitions seeking to provide solutions to a problem, usually with a monetary award in the form of a price or a grant. These challenges can very broad solutions to a societal problem or very specific needs for a unique product and company. For example, the NFL, GE and Under Armour have partnered to create the “Head Health Challenge II: Innovative Approaches For Identifying And Preventing Brain Injury1 ”. The challenge will award up to $10 Million to teams proposing solutions, materials and devices that prevent, measure and detect brain injury. Other challenges are more specific, for example company is offering an award of $40,000 for solutions that advance the current process to bond mineral pigments to cellulosic surfaces.
Other companies are issuing Collaborative Requests for Proposals (RFPs) seeking specific solutions or commercial partners to develop new products. These companies are looking for collaborative partners for joint product development, contract research, technology licensing or acquisition, or pilot demonstrations. For Example, Tata Steel aims to commercialize their high young’s module steels and is looking for a product development partner. Also, Johnson Controls is inquiring about for high strength materials and methods to texture metals to allow for plastic bonding for their automotive division.
Some of the top facilitators and innovation exchanges are NineSigma, – the pioneer and global leader of open innovation exchanges – AutoHarvest Foundation and Innovation Exchange. Small and medium companies can participate in these innovation exchanges, providing and seeking technologies in an open innovation environment. Often these exchanges offer significant benefits since it simplifies the innovation and commercialization process. These facilitators can support your innovation efforts by promoting your capabilities and technologies or looking for potential innovation partners at low or no cost to you.
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Technology & Business Innovation
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