We were asked recently by a new client what our top 10 Do’s and Don’ts are for running open innovation competitions, based on our experience including the UBS Future of Finance Challenge, Unilever Foundry Ideas Challenge, Colombia CO4 Open Innovation Competition, and Ordnance Survey GeoVation Challenge.
Therefore below is a synopsis of what we’ve learned over the past 10 years about how to effectively share risk and reward with external partners, through successful open innovation competitions:
So that’s it. Our top 10 do’s and don’ts for your next open innovation competition in 2016. We hope you found it useful and we wish you well with your next competition. Having said that, if you want a little help from an agency network who have learned all of the 10 lessons above repeatedly, and have the scars to prove it, then please do drop us a line.
Image 1: UBS Future of Finance Global Finals Pitch
Image 2: Colombia CO4 Challenge Definition Workshop
Image 3: Ordnance Survey GeoVation Water Challenge Banner