WALTHAM, Mass. – March 24, 2010 – InnoCentive, Inc., the world leader in open innovation, today announced two new capabilities, Team Project Rooms and Prodigy, designed to improve collaboration, increase the quality of solutions and accelerate Solver success. These new features were developed in response to Solvers who wanted the ability to collaborate on Challenges in teams and the capability to immediately see how well their solution to a data-set Challenge stacks up against those of fellow Solvers.
Select Challenges now provide Solvers with the ability to open a Team Project Room (TPR). This is a secure online workspace that allows a group of Solvers to privately collaborate and develop a team solution. Creating solutions with other Solvers will likely increase the quality of the solution, which increases the team’s likelihood of winning the Challenge award. The TPR adds structure and security to the team environment by clearly outlining the terms for Intellectual Property and helping team members define in advance how the solution award will be shared. Also, TPRs provide a discussion forum, document exchange capability, solution management page and message center for quick access to InnoCentive support. There are currently five open Challenges on the InnoCentive network with the Team Project Room feature:
Predictive Data Analysis
* Prodigy feature available.
Long-term Preservation of Multicellular Organisms in a Recoverable Latent State
Increasing Chemical Stability and Delivery of Small RNAs in Environmental Applications
Membrane-associated Protein Expression
Crystal Growth Detection System
“We continue to work toward an ideal Challenge experience for our Solvers.” said Dwayne Spradlin, CEO of InnoCentive. “With new ways to collaborate and compete, our Solvers can develop more successful solutions, more quickly. This means better results for our Seekers and a reduced time from submission to award for our Solvers. It’s a win-win scenario.”
Prodigy is a Website feature that enables Solvers working on certain types of Challenges to get instant feedback on the accuracy of their solution in comparison to those of other Solvers. Soon to be available on multiple Challenges, this feature is currently available on a new $100,000 Predictive Data Analysis Challenge. This Challenge asks Solvers to build a predictive model using a large, complex, dataset in order to estimate the relative performance of various breeds of an organism. The Challenge provides the molecular and performance data on 100 breeds of the organism and asks Solvers to estimate the relative performance of an independent set of 150 breeds based on their molecular data. After Solvers upload solutions, Prodigy instantly compares this information to the known answer provided by the Seeker. Prodigy provides Solvers with their score and ranking and, if they are within the top 10 best submitted scores thus far, their username will appear on the Challenge leader’s table. This motivates Solvers to quickly make adjustments to their proposed solution and resubmit to try to increase their position in the competition.
“For companies interested in running Netflix-type Challenges where they already have a set of data on a business process that they’d like to improve, this approach is ideal,” said Spradlin. “Prodigy provides a built-in competitive motivator for Solvers, and Seekers have visibility into progress on their Challenge real-time since they can watch the results as they come in.”
About InnoCentive, Inc.
Since 2001, InnoCentive has helped corporate, government, and non-profit organizations to better innovate through crowdsourcing, strategic consulting services and internal Software-as-a-Service offerings. The company built the first global Web community for open innovation where organizations or “Seekers” submit complex problems or “Challenges” for resolution to a “Solver” community of more than 200,000 engineers, scientists, inventors, business professionals, and research organizations in more than 200 countries. Prizes for winning solutions are financial awards up to US $1,000,000. Committed to unleashing diverse thinking, InnoCentive continues to introduce new products and services exemplifying a new corporate model where return to investors and individual passion go hand in hand with solving mankind’s most pressing problems. https://www.innocentive.com/
For more information contact:
InnoCentive Marketing Director