Read the InnoCentive case and in conjunction with your own team research, be prepared to discuss with
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Question:
Read the InnoCentive case and in conjunction with your own team research, be prepared to discuss with the following questions:
- (15 points) What is InnoCentive's business model? Please use the Business Model Canvas to illustrate.
- (10 points) The Seeker Side.
- Why do companies refer problems to InnoCentive? What's their motivation?
- For what kind of problems would you use IC?
- The founder of InnoCentive, Alph Bingham, characterizes internal R&D as being trapped in "local search." Does someone have experience working in firms and being stuck in local search? What happened? Why did it happen? How was it resolved?
- (15 points) The Platform: Value Provided by InnoCentive
- What is the basic thesis of IC's innovation model? Why do problems that could not be solved in the R&D labs of multinationals somehow get solved through IC?
- In your opinion what is the most critical component of IC's value proposition?
- How good a job does InnoCentive do?
- (10 points) The Solver Side.
- What motivates solvers to participate?
- What about Collaboration? Do you think Solvers would benefit from collaboration?
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