Let’s say your biotech, nutraceutical, food, chemical or pharmaceutical has an issue that is holding it back from a major competitive advantage. To solve this issue internally would take too much time or money, or both. Enter cloud crowdsourcing to the rescue.
All kinds of innovated solutions can be crowdsourced. For example, Proctor & Gamble have achieved their objective of increasing external development of new products from 20% to 35% by using crowdsourcing networks as “ways of reaching independent talent”. Crowdsourcing firms for companies in the regulated industry exist too, like Innocentive, a network of 80,000 independent self-selected problem solvers in 173 countries, established by Eli Lilly & Co., but open to anyone to use.