“Open innovation is a paradigm that assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as the firms look to advance their technology.” https://en.wikipedia.org/wiki/Open_innovation
R&D Is No Longer a Barrier to Entry or Strong Strategic Advantage
Traditionally, innovation was a closely guarded secret. R&D teams hid away in secrecy innovating, discovering, and releasing the next generation of products. Think of IBM, Bell Labs, DuPont and other companies where R&D was a valuable strategic asset.
Traditional Companies Are Moving Toward Open Innovation
According to the MIT Sloan Management review “Companies are increasingly rethinking the fundamental ways in which they generate ideas and bring them to market — harnessing external ideas while leveraging their in-house R&D outside their current operations.”
Harvesting, managing and sorting through 1,000s of ideas to find the diamonds in the rough is a daunting process.
Large organizations further complicate this process with 1,000s of employees spread across the globe. How do you launch innovation challenges? How can you make it easy for employees to sign on and engage in your innovation community in one place?
Moving outside your organization further compounds the challenge as Intellectual Property (IP) issues arise.
Once 1,000s of ideas are submitted, they need to be poured through, rated, and fleshed out. The community needs to be engaged and participate.
From here key problem solvers need to be identified, areas of focus need to be established, and the ROI has to be provided to company leadership and C-Suite.
Idea Management Software Streamlines Open Innovation
Managing ideas and turning them into actual working products takes many steps and is best done using a single technology platform that allows you to manage the entire open innovation process using software.
Our end to end open innovation software helps in five distinct areas.
Cyber scouting allows you to define your target submitter and reach them through the best channels, including internal and world-wide communications. Our system reaches beyond your existing network to find the best of the best for your needs. Our advanced cyber scouting software crawls the web to find ideal potential participants in your innovation and is seamlessly integrated with the rest of our system.
eZassi provides all the tools you need, from bilateral intellectual property protection through analytics, to address all your OI needs from one platform.
Our customizable dashboard gives you all the resources you need to sustain user and community engagement through auto-recommendations and initiatives.
eZassi supports collaboration and learning and uses notifications and alerts to keep innovation concepts active throughout the development process. With engagement, nothing falls through the cracks or forgotten.
Our powerful, advanced analytic tools provide the information you need to assess ideas, determine areas of focus or need, identify problem solvers and evaluate ROI value.