Prize Based Challenges

Topics: Creativity, Innovation, Jerry Goldsmith Pages: 5 (1228 words) Published: September 10, 2014


The Challenge Driven Innovation Process
Sept 12, 2012

A Challenge is a proven approach to solving important problems by leveraging large communities of people who can bring new expertise and diverse perspectives to bear. Challenges are an effective tool for our clients to help foster innovation and solve problems as a pay-for-performance resource coupled with world class technical experts.

Executing a Prize Based Challenge
Our team often employs a two phase approach to executing Prize Based Challenge efforts for our clients. This phased approach allows our clients to launch their open innovation efforts rapidly though two initial ideation challenges and use the results to help tailor the more complex Theoretical challenges in subsequent phases. The structure and timeframe of the three phases of execution for this approach are detailed below.

PHASE 1: Ideation Challenges (Day 1 – Day 90)
Phase 1 consists of training and planning for the overall effort as well as the execution of two ideation challenges. Ideation challenges are the most basic form of prize based challenges which pose a broad question formulated to obtain access to new ideas. Ideation challenges have been used successfully by NASA, AFRL and other DoD clients. There are few constraints on solver submission format (non-technical and non-exclusive licensing given to Seekers for guarantee of one winner per challenge), prize values are generally small (~$5,000 - $10,000). Ideation challenges provide a good opportunity for our clients to at once gather new ideas about an existing problem, familiarize themselves with the challenge process, and create publicity for subsequent follow on challenges.

1A - Challenge Development Workshop: Phase 1 will begin with a challenge development workshop. This day long workshop includes familiarization with the Open Innovation approach, an understanding of the challenge development process and establishing goals/expectations for the challenge outcomes. It also provides an opportunity for ABC/XY Subject Matter Experts to work together with our clients to brainstorm and formulate the first two Ideation and/or Theoretical (see Phase 2 description of Theoretical) challenges to be launched. Following the workshop the ABC/IC team will continue to work with the client to finalize the challenge question wording, make solver channel/publicity decisions, and specify intellectual property treatment for the first challenges. If during the workshop more important technical (non-Ideation) challenges are identified as a priority for DHS, the ABC/XY team will prioritize those and make recommendations for advancing these challenges in Phase 1.

1B - Initial Challenges Launch: Once the decisions noted above are complete, the ABC/IC team posts, publicizes and hosts the initial challenges for a period of 30-60 days (30 days for Ideation and 60 days for Theoretical/technical challenges) on the XY platform. During this period, the ABC/IC team provides constant monitoring of the challenge site for activity and submissions. The initial ideation challenges generally launch on or about Day 10 after formulation begins. 1C - Evaluation of Submissions: After the 30-60 day posting period, the ABC/IC team work to categorize, prioritize and rank the solutions submitted by the solver community. ABC/IC Subject Matter Experts specifically selected for their experience and knowledge of the challenge technical area will evaluate each of the submissions and use criteria established during the Challenge Development Workshop to present a rank ordered set of potential solutions. Ranked solution sets are provided to our clients on or about Day 45 for Ideation and day 75 for theoretical challenges. 1D - Award and Close: Following receipt of the solution sets, our clients generally have a period of 7 days to review and select winning solutions for both challenges and...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • The Prize Essay
  • Barriers, challenges, and strategies to implementing evidence-based nursing practice (EBNP) Essay
  • Challenges Essay
  • 5530112047 Nature based Essay
  • Eye's on the Prize Essay
  • Prize giving Essay
  • Gershwin Prize Essay
  • Nobel Prize Essay

Become a StudyMode Member

Sign Up - It's Free