Open Innovation & Crowdfunding

Reinhard Willfort, The Future of Crowdfunding, Berlin, 2013-04-17

Leidenschaff t Innovation®

© 2013 ISN

Agenda

Innovationmanagement @ ISN

Open Innovation – how does it work?

From Crowdsourcing to Crowdfunding to ...

Crowdfunding – what comes next?

© 2013 ISN

Example Woodworker: Product Innovation „Zirbenliebe“

differentiation through innovation – www.Zirbenliebe.at

150y old trunks + 25y experience woodworking + industrial design

© 2013 ISN

Dresscode21 - functional Designer-Shirt

© 2013 ISN

„That willnever work“

We need a culture of innovation!

work hardduty

successmyself

diligenceconformity money

Past: „Industrialcareer logic“

Source: Zukunftsinstitut

money

myself

successjoy

self-realization

freedom

Source: Zukunftsinstitut

Career logic in a „knowledge economy“

© 2013 ISN

Innovation ability: Hierarchy and Network in the same organization

In Anlehnung an P. Kruse, 2010

Hierarchy NetworkStability

Implementation

Change processCreativity

© 2013 ISN

Open Innovation…how does it work?

© 2013 ISN

…like this?

© 2013 ISN

Smart Innovation Tools for Open Innovation

ToolGatekeeper

Individuals

Innovation 1.0

Tool

ToolTool

Tool

Tool

Innovation 2.0

© 2013 ISN

Closed Innovation vs. Open Innovation

Closed Innovation

Development

Open InnovationOpen Innovation

Development

Companies develop and commercialize ideas exclusively with internal resources, especialy members of R&D department

Companies develop and commercialize ideas exclusively with internal resources, especialy members of R&D department

Companies commercialize third-party innovations in addition to internally

developed innovations and foster co-operation with suppliers, research

institutions, customers, etc.

Companies commercialize third-party innovations in addition to internally

developed innovations and foster co-operation with suppliers, research

institutions, customers, etc.

Chesbrough (2003)

funnel of ideas

© 2013 ISN

OI & IT: „The Rise of Crowdsourcing“[Jeff Howe 2006, wired]

Crowdsourcing

Crowd Creativity

Crowdfunding

Crowd-investing

© 2013 ISN

Crowdcreativity

Task & CI:Customer, Employee, User

Idea generation with community

Review and consolidation of ideas by the community itself 

(optional)

First Pre‐Selection

Final selection by jury

Awards for the "winning idea (s)"

Implementation of the Idea to Innovation

© 2013 ISN

Crowdsourcing use-cases

© 2013 ISN

• AVL List GmbH - GREAT IDEAS

• Task: Group-wide idea initiative to fill up the idea pipeline for 4 strategic issues

• Brainstorming with an integrated Neurovation.net instance

• Potential: 5,250 employees

• > 850 employees (> 15% corporate participation)

• 52,000 hits in 3 months

• Approx. 150 ideas

• 80 ideas in community rating with over 2,200 ratings

• 20 Final ideas for the jury review

• 3 winners (+6 more ideas)

• Also: > 300 feedbacks, 350 "Like" & about,

• many new internal network connections

Successful Project

© 2013 ISN

• National Library of Economics (Hamburg & Kiel)

• Ideafinding through their own instance (moderation and support)

• Task: Expansion of Web (2.0) Services

• Potential: 10,000 customers, 300 employees

• Goal: development of an innovation community

• Objective: Looking for lead users (MA)

• Integration of users in the implementation of the ideas

• 150 entries

• 3 Ideas

Successful Project

© 2013 ISN

• Austrian Mobile Power

• Crowdsourcing via neurovation.net

• Task: create a logo for eMobility in Austria

• Objective: awareness of the issue

• Objective: Develop a Facebook Page

• General. valid logo

• 150 entries

• 125 in Review

• Approx. 10,000 Votes

• 20 Winners in 1st Round

• 1 Logo

Successful Project

© 2013 ISN

From Crowdsourcing to Crowdfunding to ...

© 2013 ISN

© 2013 ISN

Focus of 1000x1000 Crowdinvesting platform

12M

Cap

ital N

eed,

Ris

k

Zeit24M 36M

0 - 30k € > 5 Mio. €

Proof of Concept,Prototyp,Application

Risk

Idea, Concept,Team Go to market,

Product,Marketing

1000x1000 Network

Expansion,Internationalization

Need of capital

0M

© 2013 ISN

RealizationStart? Innovation

Investors, Multiplier

Concept

Creatives, Founders, SME

Crowdcreativity Crowdinvesting

„Crowdpower 2.0“

© 2013 ISN

Crowdcreativity vs. Crowdfunding?

€ 1000comment

© 2013 ISN

1) Crowdcreativity: How to get early feedback from the market?How to find partner for your entrepreneurship team?

2) Crowdinvesting: How to rise money for financing your idea?How to push your idea fast to the market?

Crowdpower 2.0

© 2013 ISN

The new formula for Open Innovation

(IdeaxCapital)SocialMedia

© 2013 ISN

Crowdfunding –what comes next?

© 2013 ISN

Future Trends

We will see a lot of „Crowdxxxxx“

„Gamification“

Business Model Innovation

…

© 2013 ISN 30

Dr. Reinhard WillfortISN - Innovation Service Network GmbH8010 Graz, AUSTRIAHugo-Wolf-Gasse 6a Tel.: +43 316 919229 0www.innovation.atreinhard.willfort@innovation.atTwitter: @willfort

Contact 1000x1000.at