SOURCE: INNOCENTIVE, INC.

InnoCentive, Inc.

July 29, 2009 09:01 ET

InnoCentive Launches Fast Feedback Program for Faster Evaluation and Validation of Challenge Solutions

Program Taps Direct Consumer Feedback for Posted Ideation Challenges to Speed Innovation

WALTHAM, MA--(Marketwire - July 29, 2009) - InnoCentive, Inc., the global open innovation marketplace, today announced the launch of its Fast Feedback Program, designed to quickly and efficiently guide Seeker clients through the process of capturing direct consumer feedback on InnoCentive Ideation Challenge submissions. This adds a compelling, complementary offering for marketing organizations that are looking for market validation of various submitted solutions. The program offers a more cost effective means of evaluation and improvement, because the solution field is rapidly winnowed to the best, allowing clients to invest in a smaller, stronger pool.

Fast Feedback is the result of feedback provided by InnoCentive Seekers who want to include the voice of the consumer early in the development process and are looking for help gaining insight in evaluating Ideation solutions submitted by Solvers. An Ideation Challenge is a global brainstorm for producing a breakthrough idea. Clients will post Ideation Challenges when looking for innovative ideas for a new product line, a new commercial application for a current product, or even a viral marketing idea for recruiting new customers. Suggested solutions are often in fields outside of clients' immediate expertise, making feedback on the potential market viability of solutions invaluable.

With Fast Feedback, InnoCentive will convene specialized focus groups to review submissions and help determine market viability of suggested ideas. From start to finish, the review process should take approximately one month. This gives clients a way to choose the best solution in situations where they need consumer feedback in a timely manner.

"Marketing and product development organizations will find particular benefit in this capability as it combines crowdsourcing of new ideas, validated with direct consumer feedback," said InnoCentive's Bonnie Becker, vice president of marketing. "Fast Feedback will give these organizations the best of both worlds, diversity and focus."

The Fast Feedback process works as follows:

-- Culling Submissions -- Using agreed-upon criteria, InnoCentive winnows down submitted solutions to the top 10 percent.

-- Panel Selection and Submission Review -- InnoCentive selects panelists from their network of Solvers, the client's resources or a third-party recruiter. Panel members provide critical input on submitted solutions, ensuring that proposed products address an unmet need, or suggesting changes that will increase the success of a concept.

-- Analyzing Results -- InnoCentive analyzes the results of the submission review and provides clients with summaries, observations and recommendations on next steps.

"The Fast Feedback program is a logical complement to our Ideation Challenge and will enable us to provide more value to our Seeker clients needing real-time consumer feedback as part of their solution decisions," offered Dwayne Spradlin, CEO of InnoCentive. "By tapping the resources of our network of 180,000 plus Solvers, combined with insights gleaned from a targeted focus panel, our Seeker clients can now develop an idea from concept to reality in a much shorter time."

To learn more information about InnoCentive, visit http://www.innocentive.com/.

About InnoCentive, Inc.

InnoCentive was founded in 2001 to help companies innovate better. InnoCentive built the first global web community for open innovation, enabling scientists, engineers, professionals and entrepreneurs to collaborate to deliver breakthrough solutions for R&D-driven organizations. InnoCentive Seekers, who collectively spend billions of dollars on R&D, submit complex problems to the InnoCentive Marketplace where more than 180,000 engineers, scientists, inventors, business people, and research organizations in more than 175 countries are invited to solve them. Solvers who deliver the most innovative solutions receive financial awards ranging up to US$1,000,000. InnoCentive@Work, InnoCentive's Software as a Service offering, helps organizations make the most of internal resources by uniting experts from all areas of a company in an open innovation environment that encourages cross-fertilization of ideas. InnoCentive makes it easy to get up to speed on either product with ONRAMP, an extensive set of tools, expertise and best practices designed to accelerate success. InnoCentive's Seekers include commercial, government and non-profit organizations including Avery Dennison, SAP, Procter & Gamble, Pendulum, Eli Lilly and Company, Janssen, Solvay and The Rockefeller Foundation. For more information on InnoCentive, go to: http://www.innocentive.com/.

Contact Information

  • Press Contact:
    Connie French
    InnoCentive Marketing Director
    978-482-3300
    Email Contact