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Challenge Strategy to Assimilate Unstructured Information
Strategy to Assimilate Unstructured Information
STATUS: Awarded
Active Solvers: 693
Posted: Oct 26 2011
Challenge ID: 9932821
 
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Abstract

How can a large quantity of data from diverse sources be used to make predictions or inform decision-making efforts? 

This is an Ideation Challenge with a guaranteed award for at least one submitted solution.

Overview

As technologies advance and communications become increasingly prevalent, the flow of information in the world is growing rapidly.  How can this information be used to support decision-making efforts and predict future outcomes?  The Seeker is searching for a strategy that uses a wide array of information to find meaningful trends, given data from diverse sources. 

This is an Ideation Challenge, which has the following unique features:

  • There is a guaranteed award.  The awards will be paid to the best submission(s) as solely determined by the Seeker. The total payout will be $10,000, with at least one award being no smaller than $5,000 and no award being smaller than $1,000. 
  • The Solvers are not required to transfer exclusive intellectual property rights to the Seeker.  Rather, by submitting a proposal, the Solvers grants to the Seeker a royalty-free, perpetual, and non-exclusive license to use any information included in this proposal.  Please refer to the Challenge Specific Agreement for a complete description of the license terms.

After the Challenge deadline, the Seeker will complete the review process and make a decision regarding regards the Winning Solution(s).All Solvers who submitted a proposal will be notified on the status of their submissions; however, no detailed evaluation of individual submissions will be provided.

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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