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Why Bloated R&D Budgets Don’t Guarantee Innovation

Innovation is the name of the game. In today’s rapidly-evolving marketplace, businesses must always be developing products and services to stay competitive. And relevant. An obvious solution may seem to dedicate substantial funding into your research and development division; after all, some of the top innovators in the world—Apple, Amazon, Tesla—boast staggering R&D budgets. This,

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Five Bulletproof Strategies for Successful Crowdsourcing

Five Bulletproof Strategies for Successful Crowdsourcing Crowdsourcing is one of the premier innovations of the digital age, bringing projects to life by asking people from around the world to share their ideas. By globally connecting engineers, artists, and researchers, the possibilities for crowdsourcing are changing the world as we know it. Strategic crowdsourcing yields impressive

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Millennial IoT wallet challenge

A recent crowdsourcing challenge piqued community interest by urging its members to rethink what every modern millennial is (hopefully) carrying around in their back pocket––a wallet. The catch? It couldn’t just be any old folded up piece of leather, but a wallet worthy of ushering the title “IoT” (Internet of Things). Oh, and it also

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Nasa Crowdsourcing

Crowdsourcing within the aerospace industry

In the past, research and development within the aerospace industry has traditionally been confined to university laboratories, private sectors like Boeing and Lockheed Martin, or to government-sponsored agencies such as NASA. Fortunately, we now live in the information age, and the so-called “silo mentality” just doesn’t cut it anymore. Aerospace companies are now resorting to

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Open innovation and intellectual property protection:: 5 tips to success

Open innovation is a method used by progressive businesses seeking new, more effective ways to solving complex problems—anything from product conception to final delivery. More popularly known as “crowdsourcing”, open innovation basically refers to the widespread sharing of information to infuse fresh ideas into business solutions. Unfortunately, entrusting sensitive materials to such a vast network

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Using Open Innovation as a Growth Strategy

Innovation is the key to forward-thinking businesses, especially in today’s competitive tech industry. Excellent product design happens when a company successfully identifies its customer’s problem and then builds an actionable solution, preferably one that strikes a nuanced balance between cost-efficiency and ingenuity. We’re living in an age of uncharted growth for electronics. Each passing day

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