|
Since designing and producing our first challenge in 2011, we have found that open innovation, and incentive prize competitions in particular, reap the same benefits for impact as they do for commercial aims: by tapping the power of the crowd, organizations can identify solutions that are both novel and viable. Defining the problem, investing in design, and optimizing for outcome are key to making open innovation work.
So what makes for a good impact prize competition? We believe there are three contributing factors: first, clearly defining the problem to be solved; second, investing in challenge design; and third, providing solvers with the resources required to close the gap between concept and viability.
“Perspectives on Impact: Leading Voices On Making Systemic Change in the Twenty-First Century” is available this week. The book, edited by Nina Montgomery, features a chapter by Luminary Labs CEO Sara Holoubek that details how we design for outcome. As a preview, we’ve adapted three case studies from the chapter on designing open innovation programs with outcome in mind.
Read more: our open innovation page is updated with curated selection of news, insights, and case studies.
|
