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INTERNET | Internet Software & Services / Collaboration & Project Management
innocentive.com

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Founded Year

2001

Stage

Acquired | Acquired

Total Raised

$28.18M

About InnoCentive

InnoCentive connects companies, academic institutions, public sector and non-profit organizations in the crowdsourcing platform Open Innovation Marketplace.On July 10th, 2020, InnoCentive was acquired by Wazoku. The terms of the transaction were not disclosed.

InnoCentive Headquarter Location

610 Lincoln St Suite 125

Waltham, Massachusetts, 02451,

United States

978-482-3300

Latest InnoCentive News

InnoCentive Launches World Vision Challenge To Attract Additional Investment In Clean Water, Sanitation, And Hygiene

Jul 16, 2021

InnoCentive Launches World Vision Challenge To Attract Additional Investment In Clean Water, Sanitation, And Hygiene Humanitarian organisation using crowdsourcing to leverage its planned investments for WASH to generate new financing sources for low-income countries Author: Jul 16, 2021 6:00 AM EDT LONDON, July 16, 2021 /PRNewswire/ -- Open innovation firm InnoCentive is supporting Christian humanitarian organisation  World Vision  on a new challenge that aspires to find new business models that could generate billions of new investment into water, sanitation, and hygiene (WASH) services over the next five years. Lack of access to adequate WASH services has a significant impact on global health and well-being, leading to hundreds of thousands of deaths each year, particularly in the rural areas of low and middle-income countries. The challenge - Leveraging Funds to Increase Investment in Water, Sanitation, and Hygiene - seeks written responses that both expand on existing financing techniques for WASH investment and generate entirely new ideas. "A lack of financing for WASH development is perhaps the single biggest reason that so many people still lack access to clean water and sanitation," said Keith D. Kall, Senior Executive Director, World Vision. "Our five-year plan (2021-2025) projects World Vision will raise US$1 billion for investment into WASH services for low- and middle-income countries. We are utilising InnoCentive's open innovation crowd and platform in a search for a way to leverage this commitment with the hopes that we can obtain a 4-to-1 multiplier on our planned investments." A  2019 UN-Water Global Analysis and Assessment of Sanitation and Drinking-Water Report  showed that many countries with costed national WASH plans lack sufficient finance to implement those plans. Almost 90% of countries do not even have adequate finance for their rural drinking water and rural sanitation plans. This new challenge aims to maximise the impact of  World Vision's WASH  investments. "The financing needed to help address global access to clean water and sanitation will not be met by a single entity, so for World Vision to use crowdsourcing to find ideas makes a great deal of sense," said Simon Hill, CEO, Wazoku. "The InnoCentive crowd and platform has a wide variety of solvers with a broad background of expertise in addressing this type of challenge, and I'm excited to see what they come up with." InnoCentive, a  Wazoku  brand, is the Open Innovation Marketplace component of Wazoku's Enterprise Innovation Platform, a suite of tools to power innovation at scale across global enterprises. InnoCentive has a long history with NGOs, nonprofits, and businesses, who benefit from the expertise of its global network of nearly 500,000 registered expert problem 'Solvers' and 75%+ success rate in addressing challenges. InnoCentive's partner  SeaFreight Labs , a crowdsourcing consultancy that delivers solutions to the global seafreight community, supports this challenge as part of SeaFreight Labs' commitment to the  Pledge 1%  movement. "This challenge is soliciting something unusual from the InnoCentive crowd," said Harry Sangree, Founder and CEO, SeaFreight Labs. "World Vision is searching for business-model innovation in what I think of as a 'feeding the 5,000' kind of problem. Just as Jesus multiplied two fishes and five loaves into enough to feed 5,000 people, World Vision is looking to greatly multiply their planned WASH investments so that multitudes of additional people might benefit from improved water, sanitation and hygiene services (WASH). "  For further information about Wazoku, https://www.wazoku.com For further information about InnoCentive, https://www.innocentive.com/ For further information about SeaFreight Labs, https://www.seafreightlabs.com/ For further information about World Vision, https://www.worldvision.org/ PR Contact:

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Expert Collections containing InnoCentive

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

InnoCentive is included in 1 Expert Collection, including Education Technology (Edtech).

E

Education Technology (Edtech)

2,228 items

InnoCentive Patents

InnoCentive has filed 1 patent.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

9/26/2012

Computing input devices, Pointing devices, Pharmaceutical industry, Video game controllers

Application

Application Date

9/26/2012

Grant Date

Title

Related Topics

Computing input devices, Pointing devices, Pharmaceutical industry, Video game controllers

Status

Application

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