Engineering Innovation Podcast and Radio Series

Innovation "eBay"

PostedApril 8, 2005

Download File (mp3)

When a company's stumped by a scientific or technical hurdle its staff can't figure out, who's it gonna call?  Maybe a new e-business called InnoCentive.  Sort of like an "Innovation eBay," they tap a worldwide brain-trust of about 80-thousand people—mostly scientists and engineers—who register for free on their web site.  There you can surf through the numerous challenges.  Solve one by the deadline and InnoCentive says you can win a one-time reward ranging from ten to a hundred thousand dollars, as long as you're willing to turn over intellectual property rights.  With the National Academy of Engineering, Randy Atkins, WTOP Radio.

Since they began in 2001, InnoCentive says about a third of their challenges have been solved and they've awarded over a million dollars.