InnoCentive was set up in Massachusetts, USA, with an idea of compensating creative thoughts through an electronic stage. Eli Lilly utilized this thought to gather a gathering of expert researchers to conceptualize inventive and imaginative answers for rising issues of the world. There are various issues/challenges posted on the site; experts are required to unravel it for the guaranteed money related reward. Three sorts of difficulties can be found on the site, conceptualize, premium and terrific difficulties. Along these lines, proficient issue solvers are pulled in towards this intelligent stage to acquire prizes and acknowledgment.
1. Why would firms use InnoCentive’s service to solve scientific and technical problems?
2. What are the drawbacks in choosing a market or a community for problem solving?
3. How would you improve Innocentive Business model?