IC’s Business Model
IC is the industry pioneer in open innovation, crowd sourcing and prize competitions. It has created a web-based open innovation marketplace business model where leading organizations partner with IC to harness the power of open innovation, crowd sourcing and prize competitions to solve problems and innovate faster, more cost effectively and with lesser risk than ever. Its business model is based on achieving solutions and to change the way innovation and problem solving have traditionally worked. IC aims to provide its customers with measurable innovation in the business out...
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...er a lot of potential to IC’s business but its implications need to be analyzed clearly. Collaboration is like upgrading the existing business model with new features which have the capability of offering higher potential. It will change a lot of things in the current business model like IP transfer and anonymity and how they will affect the Solvers and Seekers need to be deliberated. This new system will change IC’s structure and the way Solvers have been operating. All this will change the way the business was running till now. So, IC should go ahead with collaboration only when all the systems and processes for managing the Solver teams and roles of everyone are defined and other key issues related to IP transfer and how anonymity will work have been addressed. This will enable IC in a smooth transition from existing business model to the one with collaboration.
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