Since 2001, InnoCentive has established itself as a leader in the innovation and problem-solving arena. By operating an online crowdsourcing platform, it connects institutions facing complicated problems to individuals with innovative solutions and ideas.
Using a system of challenges and monetary rewards, ‘solvers’ can propose their solutions and get recognised for the ideas selected by solution seekers. As of October 2012, InnoCentive has a database of over 270,000 solvers from around 200 countries.
Several prominent institutions have participated in this innovative solution seeking process through InnoCentive. The list includes organizations such as Booz Allen Hamilton, NASA, Procter & Gamble, The Economist, and The Rockefeller Foundation.
The range of challenges and rewards available at InnoCentive is quite wide. One of the large rewards at InnoCentive was the $1 million ALS Biomarker Prize given to Dr. Seward Rutkove for identifying a significant biomarker in ALS research. Another example is the $20,000 awarded to John Davis for his original solution to help clean up oil remaining from the Exxon Valdez disaster.
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