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Simon Schneider CEO. What are the problems in Your innovation eco-system?. Ideas are hard to find and difficult to assess because of their uniqueness Academic research takes too long to get commercialized Researchers largely lack the business acumen to bring their invention to fruition

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what are the problems in your innovation eco system
What are the problems in Your innovation eco-system?
  • Ideas are hard to find and difficult to assess because of their uniqueness
  • Academic research takes too long to get commercialized
  • Researchers largely lack the business acumen to bring their invention to fruition
  • The same experts always try to solve the same problems. There is not enough spill-over from outsiders and not enough utilization of your own employees/network’s ideas
  • Venture Capital has recently become less focussed on seed-stage investing and left a funding gap

employees -

- companies

- government

- investors

SMEs -

researchers -

state of the prize industry what did government leaders and innovators tell us they want
State of the prize industry: what did government leaders and innovators tell us they want?
  • As part of our EU Commissionproject, we interviewed 25 leaders from government and foundations from around the world, who have prize experience.
  • Here are some of the findings:
  • Their top priority is to attract a higher quality of applications
  • 100% of the government leaders we interviewed value attracting solutions from outside the problem sector
  • Visibility for themselves is important too! (the “Idaho News effect”)

70%

Focusing on a challenge

Rewarding excellence

independent survey confirms innovators want challenges to invent new solutions for you
Independent survey confirms: innovators want challenges to invent new solutions for you

70%

Focusing on a challenge

Rewarding excellence

YouGov survey in March 2011 asked 523 SME innovators:

- 68% of SMEs believe that focusing innovators on a specific challenge is important.

- 71% of SMEs think that formal recognition of excellence is a significant driver of innovation.

omnicompete was founded to solve problems first in security and now in energy and health
OmniCompete was founded to solve problems, first in security and now in energy and health

 Founded in 2006 to solve market failure in security

 We focus on three verticals: energy, security and health

 Hosted and managed 21 international competitions (and counting)...

 Advising governments around the world on prize-induced innovation

 Established community of 10,000 solvers & start-ups

 Awarded over $2.9M (USD) to date & growing

 Achieved market-impact of $104M (USD) for our finalists

why are we best positioned to help with your grand challenges programme
Why are we best positioned to help with your Grand Challenges programme?

Transparency:Measureable R.O.I.

Abstraction:Translational approach to attract ‘black swan’ ideas

Idea Excubation: Post-award services and idea matching

Marketplaces: Creating sustainable communities

slide9
“By abstracting the problem to its most basics, and translating it we can engage the widest possible community of innovators” – quote from a client

Abstraction

Real Problem

Expert Groups

Translation

Solving

‘Steer a toy car from behind a wall’ Challenge

Experts - general public

IT

Mobile Learning

“The Oil Well Wireless Communication Challenge”

Identifying

& Mobilizing New Talents

Researchers

Stage 1 –

Ideas

Students

Focusing the Community

Cloud of Ideas & Innovators

CreatingCommunity

Near Field Comm.

Employees - Customers

Implementations

of innovations

Right Time

Social Innovation

Right Place

Public

Post-Competition Impact Plan

Right Topic

‘Put the picture together while missing bits from a message’

Ideas

Chemists

Employees

Deconstructing the complex problem to its basics and then translating it in order to engage the widest community of solvers

creating sustainable offline communities for spill over effects and exploitation
Creating sustainable offline communities for spill-over effects and exploitation
  • Our offline events act as marketplaces for ideas
  • Regular touch-points are important, as DARPA Grand Challenge showed, which we know well because of former DARPA Dept Director who is on our Board
  • Structured actions after the award are crucial to further the exploitation of ideas. Our GSC has multiplied $2.9m of prizes into $104m in market impact due to matching and BP-plan services.
how to reach us
How to reach us?

Simon Schneider

CEO

Email: [email protected]

Telephone: 0044 (0) 207 224 0110 

We are on GSA Schedule: GS-07F-0638X

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