Open innovation is a systematic inflow of external know how to accelerate enterprise innovation, resulting in a new or improved products, services, or processes, and therefore increase in market share.
Innovation Competition is a simplest form of Open Innovation, executed as one off or at yearly interval for an intellectual connect, market advancement and diverse innovative ideas.Here are the following as philosophy and trends being acknowledged in general:
1. “Can't ignore open innovation”
2. “Collaboration, not Competition, is the way forward”
3. “Innovation as a branding strategy”
4. “Innovation for engagement”
Founded in 2010, the industry website, Crowdsourcing.org, is a neutral organization dedicated solely
to crowdsourcing and crowdfunding. As one of the most influential and credible authorities in the crowdsourcing space,
Crowdsourcing.org is recognized worldwide for its intellectual capital, crowdsourcing and crowdfunding
practice expertise and unbiased thought leadership.