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Simon Schneider CEO. What are the problems in Your innovation eco-system?. Ideas are hard to find and difficult to assess because of their uniqueness Academic research takes too long to get commercialized Researchers largely lack the business acumen to bring their invention to fruition - PowerPoint PPT Presentation
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Simon SchneiderCEO
What are the problems in Your innovation eco-system?
Ideas are hard to find and difficult to assess because of their uniqueness Academic research takes too long to get commercialized Researchers largely lack the business acumen to bring their invention to
fruition The same experts always try to solve the same problems. There is not enough
spill-over from outsiders and not enough utilization of your own employees/network’s ideas
Venture Capital has recently become less focussed on seed-stage investing and left a funding gap
SMEs -- companies- government- investors
researchers -
employees -
The power of open innovation andcompetitions can solve that problem
State of the prize industry: what did government leaders and innovators tell us they want?
Rewarding excellence
70 %
Focusing on a
challenge
As part of our EU Commission project, we interviewed 25 leaders from government and foundations from around the world, who have prize experience.
Here are some of the findings:
Their top priority is to attract a higher quality of applications
100% of the government leaders we interviewed value attracting solutions from outside the problem sector
Visibility for themselves is important too! (the “Idaho News effect”)
Independent survey confirms: innovators want challenges to invent new solutions for you
Rewarding excellence
70 %
Focusing on a
challenge
YouGov survey in March 2011 asked 523 SME innovators:- 68% of SMEs believe that focusing innovators on a specific challenge is important. - 71% of SMEs think that formal recognition of excellence is a significant driver of innovation.
OmniCompete was founded to solve problems, first in security and now in energy and health
Founded in 2006 to solve market failure in security We focus on three verticals: energy, security and health Hosted and managed 21 international competitions (and counting)... Advising governments around the world on prize-induced innovation Established community of 10,000 solvers & start-ups Awarded over $2.9M (USD) to date & growing Achieved market-impact of $104M (USD) for our finalists
Our current and past competition clients
Why are we best positioned to help with your Grand Challenges programme?
Transparency:
Measureable R.O.I.
Abstraction:
Translational approach to
attract ‘black swan’ ideas
Idea Excubation:
Post-award services and idea
matching
Marketplaces: Creating sustainable
communities
“By abstracting the problem to its most basics, and translating it we can engage the widest possible community of innovators” –
quote from a client
Mobile Learning
Abstraction
“The Oil Well Wireless
Communication Challenge”
Implementations of innovations
Employees -
Customers
Expert Groups
Real Problem
Experts - general public ‘Steer a toy car
from behind a wall’ Challenge
Near Field Comm.
Social Innovation
Translation Solving
Ideas
Identifying& Mobilizing New Talents
CreatingCommunity
Focusing the Community
‘Put the picture together while
missing bits from a
message’
Deconstructing the complex problem to its basics and then translating it in order to engage the widest community of solvers
Cloud of Ideas &
Innovators
Students
Chemists
Public
Employees
IT
Researchers
Stage 1 –Ideas
Right Time
Right Place
Right Topic
Post
-Com
petit
ion
Impa
ct
Plan
Creating sustainable offline communities for spill-over effects and
exploitation
Our offline events act as marketplaces for ideas
Regular touch-points are important, as DARPA Grand Challenge showed, which we know well because of former DARPA Dept Director who is on our Board
Structured actions after the award are crucial to further the exploitation of ideas. Our GSC has multiplied $2.9m of prizes into $104m in market impact due to matching and BP-plan services.
How to reach us?
Simon SchneiderCEO
Email: [email protected] Telephone: 0044 (0) 207 224 0110
We are on GSA Schedule: GS-07F-0638X
OmniCompete Ltd.
57 Gloucester PlaceLondon W1U 8JJ
UK
OmniCompete Inc c/o NAAB
3200 East 12 Mile Road Warren, MI 48092
USA