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The Economist-InnoCentive Entrepreneurship Challenge

STATUS: Awarded
POSTED: Oct 22 2010
SOURCE: InnoCentive

InnoCentive and The Economist are teaming up to connect InnoCentive’s talented community, The Economist’s millions of readers and the rest of the world with The Economist conference series entitled the Ideas Economy. Solvers are asked to provide thoughtful and valuable business plans to this Challenge. Two awards will be made: one for best overall business plan and one for best business plan submitted by a student or team from an accredited MBA program. The winning solution will receive a substantial cash award and be highlighted at the upcoming Economist Ideas Economy: Innovation conference in March 2011. Many more details are available inside the Challenge’s Detailed Description section.

Challenge ID: 9783226
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Challenge Overview

As part of The Economist and InnoCentive’s Challenge Program for the upcoming Ideas Economy Conference on Innovation, The Economist is seeking disruptively innovative and exciting business models that embody the conference’s main theme – innovation. The business models should reinvent the established and prevailing means of doing business, as is represented in the Challenge’s graphic. Solvers from any discipline or background, including those from The Economist’s global community of readers, InnoCentive’s Open Innovation community and the rest of the world are invited to participate and win a cash award of $5,000. Similarly there will be a special award of $5,000 given out to the best business plan submitted from an individual enrolled in an accredited MBA program anywhere in the world. The overall winner of this Challenge will be elevated to the position of speaker or participant at the March 2011 conference in Berkeley, California. Many more details are provided in the Challenge’s Detailed Description section once you create and log into your free InnoCentive Solver account.

What is InnoCentive?

InnoCentive is the global innovation marketplace where creative minds solve some of the world's most important problems for cash awards up to $1 million. Commercial, governmental and humanitarian organizations engage with InnoCentive to solve problems that can impact humankind in areas ranging from the environment to medical advancements.

What is an InnoCentive Ideation™ Challenge?

An InnoCentive Ideation™ Challenge is a broad question formulated to obtain access to new ideas, similar to a global brainstorm for producing a breakthrough idea or market survey which may include ideas for a new product line, a new commercial application for a current product, or even a viral marketing idea to recruit new customers. Ideation™ Challenge submissions are typically about two written pages, and Seekers receive a non-exclusive, perpetual license to use all submissions.

In an Ideation™ Challenge, Solvers may:

  • Submit ideas of their own
  • Submit third party information that they have the right to use and further the authority to convey that right and the right to use and develop derivative works to Seekers
  • Submit information considered in the public domain without any limitations on use

Solvers should not reveal any confidential information in their submissions. Often the Ideation™ Challenge will be followed by one or more of the other three Challenge types to further develop the ideas and gain Intellectual Property protection when the concept has been well-defined.

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