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How Do You Value an Idea? |
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We've been experimenting with open innovation in the marketing and product feedback space, and have been admiring the InnoCentive model from afar. A recent article from the NY Times makes us wonder about a fair exchange of value in these open models: If You Have a Problem, Ask Everyone.
The idea is just what we've seen work as a formula for successful collaboration - inviting people from outside of your industry, your corporate hierarchy, and your defined way of thinking. As an example, InnoCentive cites a chemist in Bloomington, Ill. who is a concrete expert solving an oil spill problem. Here's what doesn't add up: "The Oil Spill Recovery Institute of Cordova, Alaska, paid him $20,000 for his idea."
Admittedly, we know very little about the Oil Spill problem and the commercial value and feasibility of the concrete chemist's solution, but it just seems that $20,000 would be the kind of prize acceptable to a mid scale user generated video contest, not a game changing innovation challenge. This opens up a larger question - should companies compensate consumers, innovators, and advocates outside of their network, and if so, how should this value exchange happen?
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BY JEN
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