Page 120 -

OPEN BUSINESS MODELS The Connector:

Innocentive

114
Innocentive
PATTERNS Companies seeking insights from external platform access to a
access to a
researchers incur substantial costs when trying
broad network
of scientist
of scientist
to attract people or organizations with knowl- management broad network
"solvers"vers"vers"
"sol online profi les
"sol
"solvers"
"seekers"
"seekers"
"seekers"
edge that could solve their problems. On the acquire solvers (company)
(company)
other hand, researchers who want to apply their & seekers connect "seek-
connect "seek-
ers" & "solvers"
knowledge outside their own organizations major "seekers" ers" & "solvers"
"solvers"
also incur search costs when seeking attractive "solvers"
(scientists)
access to
innocentive access to (scientists)
opportunities. That is where a company called platform with scientifi
scientifi c c
c
challenges with
base of "solvers" challenges with hallenges with innocentive.com
InnoCentive saw opportunity. & "seekers" cash rew
cash rewards
cash rewardsards
InnoCentive provides connections between
organizations with research problems to solve
and researchers from around the world who are free a
free a
free access to challenges
free a
free a
free access to challengesccess to challengesccess to challengesccess to challengesccess to challenges
platform management
eager to solve challenging problems. Origi- fee to list challenges to
fee to list challenges to ee to list challenges to ee to list challenges to ee to list challenges to ee to list challenges to
f f f f
acquisition of "solvers" & "seekers" sol
sol
solve commissions on awards
solve commissions on awardsve commissions on awardsve commissions on awards
nally part of drug maker Eli Lilly, InnoCentive
now functions as an independent intermediary
listing non-profi ts, government agencies, and in aggregating and connecting “seekers” and
commercial organizations such as Procter & “solvers.” You may recognize these qualities
Gamble, Solvay, and the Rockefeller Founda- as characteristic of the multi-sided platform
tion. Companies who post their innovation business model pattern (see p. 76). Companies
challenges on InnoCentive’s Web site are called with open business model patterns often build
“seekers.” They reward successful problem- on such platforms to reduce search costs.
solvers with cash prizes that can range from
$5,000 to $1,000,000. Scientists who attempt
to fi nd solutions to listed problems are called
“solvers.” InnoCentive’s Value Proposition lies
!"#$%&'(%)*+(%,,---118 /012013---245:-67