“Crowdsourcing platforms are tools used by firms to source ideas from outside the organisation (either the general public or a pool of accredited experts) to solve a specific problem or challenge, or find a new product, or to design ideas. Typically, firms present their challenge on line and innovators (be they designers, scientists, start-ups or experts) can present their proposals within a given timeline. Selected solutions can then be adopted by the firm, while the innovator receives the agreed reward (e.g. a fixed monetary reward, ownership of IP rights). In many cases, such initiatives are conducted through intermediary platforms (some sector-specific)” […]. These benefit from network effects, as they are able to reach to a wider range of experts across the world (Board of Innovation, n.d.)." (Source: OECD (2019), Digital Innovation: Seizing Policy Opportunities, page 34).
Examples of crowdsourcing platforms include:
Individual firms can set up their own open innovation platforms:
- SPICE Philips Open Innovation Portal.
- General Mills G-WIN Network.