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Issue 52 - 05 | Open Innovation: Your On-Ramp to Creating a Better Product

By Dwayne Spradlin
Published Nov. 5, 2008 11:01 p.m.
For most companies the process of creating new, innovative products and getting them out the door starts with tapping the most talented members of the R&D team. Once they have arrived at an idea and decided it is feasible, R&D moves to determining the most effective way to develop it and bring it to market. It sounds logical; but what if there was a way to reinvent the process and bring better products to market faster and at a lower cost?

About Dwayne Spradlin | Dwayne Spradlin is Chief Executive officer at InnoCentive. Founded in 2001, InnoCentive built the first global web community for open innovation. InnoCentive Seekers, organizations such as Eli Lilly and Company, Janssen, Solvay, GlobalGiving and The Rockefeller Foundation, submit complex problems to InnoCentive where more than 160,000 engineers, scientists, inventors, business people, and research organizations in are invited to solve them. Solvers who deliver the most innovative solutions receive financial awards ranging up to $1,000,000.

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