innocentive grand challenge
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Proprietary and confidential
Innocentive Grand Challenge
Changing the world – One competition at a time!
Proprietary and confidential
The
Longitude Prize
1714
Precise
determination of
ship’s longitude
Won by
watchmaker
John Harrison
Proprietary and confidential
Orteig Prize
1919 First non-stop
flight New York –
Paris
Won by Charles
Lindbergh
Proprietary and confidential
DARPA Grand
Challenge 2004, 2005 & 2007
$1m autonomous
vehicle
competition by
US Government
Proprietary and confidential
Ansari X Prize
2004 “$450m to launch
a space shuttle -
$10m to launch a
space industry”
Proprietary and confidential
When to go for Grand Challenges
Major problem, difficult to solve
Standard ways of innovation failed (e.g. in-house research)
Solution requires “out of the box” thinking (e.g. from non-traditional experts)
Leverage the power of crowd sourcing and open innovation
Mitigate cost and risk associated with in-house innovation
Proprietary and confidential
Grand Challenges – the real challenge
Hire an expert to get the design right
• Deficient abstraction
• Not well structured
• Inconsistent marketing and branding
• Goals too loosely defined
• Unclear legal and IP situation
• Took too long
• Very expensive to administer
• Low ROI
• Difficult to replicate
• No measure for success
Longitude Prize, Orteig Prize, many challenges you have never heard of,
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Todays definition of a “Grand” Challenge?
Custom designed to the client’s need
Well formulated problem statement
High reaching goal
Raises awareness
Brands the organizer with the innovation (PR)
Typically requires knowledge exchange between fields of expertise
Large financial award
Use open innovation and crowd sourcing to address creative minds
Can create parallel innovation useful in other fields outside the challenge scope
Proprietary and confidential
Hosted and managed 25+
Grand Challenges
Return of Investment
(ROI) of 6.49X for
sponsors, measured
by UK Gov
More than $3M
awarded in Grand
Challenges
The InnoCentive Grand Challenges Division is
a world leader in prize design and execution
More than 250,000
active solvers in our
community
Who are we?
Proprietary and confidential
Areas of competition
Proprietary and confidential
A selection of our current and past clients
Our clients include government, industry & foundations.
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Innovating the way we innovate:
Advancing the open innovation industry
&
The InnoCentive Grand Challenges Division is supporting London
Business School in its current research project, striving to measure and
quantify the efficiency and effectiveness of prize competitions.
Proprietary and confidential
Thought leadership –
How to determine the value of a prize
$$$ Prize
Exposure
Intellectual Satisfaction
Complexity & Difficulty Level
Man-hours Needed
Capital Investment
Equilibrium of investment and outcome
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Problem Ideation Design Launch
and Marketing
Administr-ation
Implemen-tation
Solution Post
competition impact Plan
What are the typical steps involved?
Or: How to do it right!
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Ideation Develop deep
understanding of the
problem
Why has problem not
yet been solved
Can goal be achieved
Who are the experts/
thought leaders
Timeframe
Proprietary and confidential
Ideation: Root cause analysis
Reasons Goal (Example) Type of Prize Prize
Example
Market failure Curing spinal cord injury Inducement Prize $10M SSPF
Low visibility of
problem
New innovations for US Military Exposition Prize GSC
Too complex of a
problem
How to communicate to deep
water oil wells
Abstraction Prize Cement Curing
Prize
Market
stimulation
Creating new innovations for
the UK aviation security
industry
Ideation Prize INSTINCT
Unused Big Data Better algorithms Predictive
Analytics Prize
Cleveland Clinic
Prize
First, we need to research and understand why your problem has not
been solved yet as it impacts the design stage.
Proprietary and confidential
How we do the ideation process
Understanding the client’s problem
Market landscape
Ideas
Ideation
• Research • Interviews
with experts
Understanding the landscape
Thought leaders
Prize impact
Workshop planning
Client pain
Workshop with experts
External Client’s experts
Thought leaders
Adjacent fields
Etc.
Proprietary and confidential
Design Dissect client’s
problem and make it
solvable
Challenge structure
(incremental, problem
abstraction)
Align expert opinion
with client demand
How much $$$
Timeframe
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Design example
Ideas
Design
Steer a toy car from behind a
wall
Stage 1: Idea Challenges
Understanding a message
while missing bits
Abstracting the problem
Stage 2: Implementations
Focusing the Community &
enabling collaboration
The oil well
wireless comm.
challenge
Implementation of innovations
Expert Groups
IT Experts
Researchers
General Public
Chemists
Identifying & mobilizing new talents
Etc
Students
Employees
Creating Community
Proprietary and confidential
Launch &
marketing Develop marketing
campaign
Events
Partnerships
Social media
Proprietary and confidential
How to tell the
world’s innovators Similarities between a successful
election campaign and a great
competition campaign:
Sensational kick-off
Message is translated and
communicated to various
audiences
Excitement kept up for an
extended time period
There is a final election /
competition day
We strive to mirror those benefits for
the success of your Grand
Challenges.
Proprietary and confidential
Expand your Challenge’s reach
Access 12MM people through our
partner network
Market your Challenge to the perfect
target group of potential Solvers
Build Challenge and brand awareness,
and extend PR benefits through
customized marketing campaigns
Our partners include:
Proprietary and confidential
Administration Continue engaging
solvers
Live demo/pitches
Award ceremony
Marketplace for
investments
Ideas
Collaborations
Proprietary and confidential
Post-
competition
impact plan Help implement
solution in client
process
Manage successful IP
transfer (if applicable)
Identify areas for
subsequent
competitions
(if applicable)
Timeframe
Proprietary and confidential
Summary
Your Competition
Design Well structured
Consistent marketing and
branding
Definition of milestones and goals
Predefined legal and IP framework
Adequate timeline Appropriate
management effort
High ROI
Unique & customised
Success measures
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Case study: Zonal isolation prize Client (who would like to remain
anonymous) is searching for new
innovations on how to handle deep
water oil wells more securely
Problem abstraction for anonymity
and to attract other than usual
suspects to the problem
Simplification of problem to the
cement curing process
Idea competition with $10K prize
fund
Well designed abstraction prize, with
IP transfer for client.
Proprietary and confidential
Case study: Prize 4 Life Hard to monitor effectiveness of
treatments for ALS – block to progress;
low financial prospects; low public
awareness
$1 million to the first person or team to
identify an ALS biomarker – establishes
a clear metric
Sponsors only pay if challenge is solved
Publicity generated by InnoCentive’s
largest ever prize project with $1.175m
in prizes
Major milestone achieved
Overcoming barriers, customization,
providing a high ROI for the sponsor.
Proprietary and confidential
$10M Sam Schmidt
Paralysis Prize A set of prize competitions to
foster innovation in the field of
Spinal Cord Injury
Multi-stage approach to engage
many experts from different fields
from the beginning
Targeted $10 million investment
prize at the end of the challenge
Cooperation with VCs/Investors
from the beginning for a
sustainable development
Collaboration with the New
Scientist
Well designed ideation, problem
understanding & market analysis
aligned with customer vision.
Proprietary and confidential
The Global Security
Challenge International competition to find the
best security innovations prizes
sponsored by DoD’s TSWG
Number of participants in 2011: 230+
Total prizes awarded: $2.9M
$124M raised subsequently by our
participants
ROI of 6X measured by UK DFID
“I applaud the mission of the Global Security Challenge that understood this principle of fostering innovation and the innovative entrepreneurs who competed in this competition with their high-quality technologies.” Joy Cohen, Under Secretary for S&T, US DHS
Thoroughly designed marketing,
launch and execution of challenge with
high ROI for sponsors.
Proprietary and confidential
Cyber Security Challenge Series (I, II, III) First launched in 2009.
2009 winner, Ksplice subsequently purchased by Oracle.
2010 - £10,000 prize, won by Masking Networks
2011- £10,000 prize won by iThink Security
Prizes sponsored by major organisations
Proprietary and confidential
Future of Security Prize United Business Media was seeking for
new innovators to contribute to the UK’s
largest security conference: IFSEC
YouTube-based crowdvoting mechanisms
used to engage the conference attendees
before and during the event
$10K for the most innovative technology
Well designed with high attendee
engagement and visibility.
Proprietary and confidential
Competition Development: Cyber Security Challenge UK
UK wide competition to encourage
careers in cyber security
Aimed at students and cyber hobbyists
Series of challenges and tasks
Well attended live event program
Strong consortium of government and
large industry representatives
Proprietary and confidential
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