InnoCentive

InnoCentive, Inc.
Company type	Private company
Industry	Crowdsourcing, Cloud Labor, Open innovation, R & D, innovation management, product development
Founded	Indianapolis, Indiana (2001)
Headquarters	Waltham, Massachusetts, US
Key people	Craig Jones (Chairman of the Board and Chief Executive Officer); Alpheus Bingham (Founder and Board of Directors member);
Products	Innovation management, inducement prize contest, crowdsourcing, open innovation
Website	InnoCentive.com; http://www.innocentive.com/

InnoCentive is an open innovation and crowdsourcing company with its worldwide headquarters in Waltham, MA and their EMEA headquarters in London, UK. They enable organizations to put their unsolved problems and unmet needs, which are framed as ‘Challenges’, out to the crowd to address. In the case of InnoCentive, the crowd can either be external (i.e., their network of over 380,000 problem solvers) or internal (i.e., an organization's employees, partners or customers). Awards, typically monetary, are given for submissions that meet the requirements set out in the Challenge description. The average award amount for a Challenge is $20,000 but some offer awards of over $100,000. To date, InnoCentive have run over 2,000 external Challenges and over 1,000 internal Challenges, awarding over $20 million in the process.

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