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24 Jun 09

How Companies Increase Innovation

hose ideas, however, don’t really come from nowhere. Instead, they are typically at the edge of a company’s radar screen, and sometimes a bit beyond: trends in peripheral industries, unserved needs in foreign markets, activities that aren’t part of the company’s core business. To be truly innovative, companies sometimes have to change their frames of reference, extend their search space. New ways of thinking and organization can be required as well.

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Problem solvers can be professionals, retired scientists, students or anyone who can answer a problem that has stumped a company’s own researchers. InnoCentive, based in Waltham, Mass., says the site gives solutions to about 40% of the problems posed.
Many companies set up so-called communities of practice, which are typically internal Web sites where employees are encouraged to share knowledge and skills important to the company.

05 Jul 08

Cisco I-Prize – Mining the Web and the World for Innovation: Enterprise 2.0 Blog: News, Coverage, and Commentary

Cisco has launched a contest and invited the world to give it great ideas. The winner gets to join Cisco and is funded to make the idea real. More specifically, “the winning team may have the opportunity to be hired by Cisco to found a new business unit and share a $250,000 signing bonus. Cisco may invest approximately $10 million over three years to staff, develop, and go to market with a new business based on your idea.”

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