Your fast track to Innovation Excellence
Open Innovation

Best-in-class companies are twice as likely as their industry average to have open innovation processes in place. IFT’s Open Innovation solution enables you to reach out to customers, partners, suppliers and inventors to broadcast ideation challenges, capture idea submissions and collaborate on developing powerful ideas to drive your innovation process. The result is immediate access to a vast new network of idea collaborators to fill your pipeline with great new ideas, along with the automated tools to quickly and effectively sort, manage and evaluate the high volumes of ideas generated.

IFT’s Solution

IFT’s solution combines our systematic ideation performance solution and unique, patented correlation engine with a fully integrated, collaborative web portal to source ideas, insights and technology proposals.

Specifically, IFT’s solution enables you to create an open innovation process to:

Launch an open innovation website, with a direct link from your corporate or business website

Enable open innovation participants to subscribe on the website to specific subject areas of expertise

Define strategic arenas for each of your businesses, and identify ideation challenges for each strategic arena

Broadcast ideation challenges through the open innovation website and through targeted emails to your open innovation subscribers, customer and supplier lists and inventor networks

Define straightforward workflows and alerts for how different types of idea will be captured, developed and evaluated

Enable open innovation participants to submit insights and ideas related to ideation challenges

Support collaborative development of ideas and communication between innovation participants

Capture structured idea information (risks, value proposition, competitive intelligence, etc.) and unstructured information (comments, expert advice, documents, links, etc.) as the idea develops

Retain all ideation information in an Ideation Bank, used for automated correlation and clustering as well as manual search

 

Automatically identify and connect employees who share common areas of interest and similar insights and ideas

Automatically identify correlated insights and ideas and prompt employees with stimuli to improve creativity and idea development

Automatically cluster ideas by correlated content to further develop ideas, and consolidate ideas to make the evaluation process more efficient

Evaluate ideas using pre-defined business criteria and weighted scoring

Enable open innovation participants to track the status of ideas submitted, and facilitate communications between submitter and evaluator

Generate performance metrics and dashboards for open innovation participants for to enable ideation reward and recognition mechanisms

Generate performance metrics and dashboards for Ideation Challenges to evaluate their effectiveness

Integrate the FEI system seamlessly with your Stage-Gate product development process

 
Example Solution Capabilities