Designing Crowdfunding Mechanisms for Enterprise Internal Use
Research Focus: Idea Assessment, Crowdfunding, Service Innovation, Innovation Management
Content and Goals
The assessment of ideas for innovations of large service firms is currently facing new challenges. Due to an increased adoption of open innovation approaches idea portfolios in these firms grew dramatically in the past decade. The evaluation of all ideas is almost infeasible via the established idea assessment mechanisms, such as decision boards. Far too often, ideas are pursued although sufficient resources are not available. Hence, idea portfolios remain far too large, idea implementation is slowed down since necessary resources are missing.
The Enterprise Crowdfunding research project explores the use of crowdfunding, as known from the Start-Up scene, as a novel approach for leveraging the knowledge of organizations’ wider staff for assessing ideas. Since summer 2012 IBM regularly organizes field experiments on Enterprise Crowdfunding. In close cooperation with IBM the Enterprise Crowdfunding project analyses the resulting data from these experiments, conducts interviews with initiators and participants in order to evaluate the mechanism’s performance and derive options for its improvement.