Kevin C. Stark, Sr., Ph.D. Senior Program Manager NineSigma, Inc. has provided an elaboration of the innovation concepts behind Innocentive...plus his company Nine Sigma.
Thanks to the Net, Dr. Stark saw the posting and contributed his comments...truly a fantastic aspect of online collaboration.
His comments....much appreciated by this class.
1. Innocentive is a service company in the external/open innovation space along with other companies such as NineSigma and yourEncore.
The idea behind "open innovation" is how to tap into external solutions to corporate technical problems. Innocentive posts to their recruited network ofscientists, yourEncore posts projects to retired corporate technical personnel, and NineSigma posts Requests for Proposals (RFPs) globally to an open network of inventors, universities, and small/medium/large companies.
2. Innocentive was founded by and spun out of Ely Lilly's e-ventures group,and is venture funded by Lily Ventures, Spencer Trask, and Omidyar Networks.(http://www.innocentive.com/about/press/20060102_Innocentive_secures.html)
3. They charge companies to post the technical problems to their network andoffer "bounties" of tens of thousands of $$ to those that can solve the problem. Solvers (if selected) then assign the IP ownership of the solution to Innocentive, which then turns over the solution and IP to the requesting client.
4. "Tricky scientific problems" (http://boston.bizjournals.com/boston/stories/2006/01/30/daily30.html)-