Get the world’s best brains on your R&D team

Social enterprises are often searching for sustainable breakthrough innovations, but lack the resources to invest in large-scale research and development.  One creative, and increasingly popular, solution to this problem is open innovation.  The basic concept is to utilize the collected knowledge of experts from around the world to solve design challenges.

One such tool is Innocentive, which has become the premier global marketplace for open innovation.  The website connects corporations and non-profits with thousands of brilliant minds from around the world. The best solution is awarded a cash prize by the sponsoring organization.

Social enterprises in India and around the world have posted numerous challenges on Innocentive and met with great success.  In an interview with Fast Company, Dwayne Spradlin of Innocentive discusses the growing trend of non-profits turning to open innovation.  He also explains how non-profits are able to generate interest even with small rewards,

We’re doing more in the non-profit space than ever. We’ve all come here to change the world and you do that by helping organizations of all types really address their challenges. It’s particularly rewarding to work in a challenge realm that can impact human life like people’s ability to drink clean water in sub-Saharan Africa.

Not-for-profit challenges, where there’s clearly some sort of a global good associated with it, tend to draw the attention of globally-minded solvers. That means that a $10,000 or $20,000 prize—which could be quite a bit for a not-for-profit to offer—is amplified dramatically because the dividends to the solver are not only the money.

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