Innovation competitions is a great tool crowdsource innovation in your open innovation process. This is my personal insights about trends in innovation competitions. Please ask me if you have questions.

1. Sqore. It’s official.
8 TRENDS IN INNOVATION
COMPETITIONS
by Jacob Westerlund – April 2015

2. Sqore. It’s official.
Develop your hardware
An innovation competition is a great way to organize a
community that can develop software for your hardware - as
long as there are good incentives and prizes to be won.

3. Sqore. It’s official.
Hold several iterations
More and more competitions are being conducted in several
iterations. The first step usually has a low threshold for
participating, to increase the number of contestants. The last
step is demands more of participants, in order to achieve
highly relevant innovation.

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Matchmaking forum
Many competitions target teams rather than individuals. A
matchmaking forum is an excellent way for individuals with
different skills to meet and form a team.

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Incubators for winners
Larger companies create incubator environments, which can
take the form of a separate company, and which can be used to
build a bridge between winners’ concepts and eventual
implementation. Inclusion in these environments can also be
part of the incentive for participants.

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Make the jury your ambassadors
Inviting external experts to be a part of the jury has proven to be
a success factor. There is a lot of opportunity created when big
names in whatever area the competition is based act as
ambassadors and create awareness.

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CSR 2.0
Up until now, CSR has been about making changes internally,
and communicating those changes on the webpage or via an
over-designed brochure. Through an innovation competition
companies can now engage stakeholders directly in their most
important CSR challenges.

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Social voting
Great marketing is one of the most important factors when
organizing a successful innovation competition. Social voting
that is integrated with the major social media platforms is a
great way to create buzz globally.

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Hope you enjoy, and remember,
sharing is caring!
Sqore organizes and develops innovation
competitions on a global scale. We’ve earned a
reputation for creating tailored competitions, and
for delivering on our client’s innovation needs.
Let me know if you are interested in arranging an
innovation competition, or if you know someone
who is interested please spread the word!
Read more about what we do:
http://services.sqore.com/topics/innovation
Jacob Westerlund
+46 70 644 77 76
jacob.westerlund@sqore.com