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November 30, 2015 7:00 AM ET

Internet Software and Services

Company Overview of InnoCentive, Inc.

Company Overview

InnoCentive, Inc. offers a cloud-based innovation management platform to help companies, corporations, public sector agencies, governments, and nonprofits to find solutions to their pressing problems. The company offers InnoCentive@Work, a collaborative SaaS-based innovation management software solution that enables users to engage diverse innovation communities, such as employees, partners, and customers to help them to generate novel ideas and solve their pressing problems. It also provides externally crowd-sourced challenge programs and innovation competitions to solve problems and breakthrough innovations; InnoCentive Idea Management, a SaaS-based idea generation software platform for in...

245 Winter Street

2nd Floor

Waltham, MA 02451

United States

Founded in 2001





Key Executives for InnoCentive, Inc.

Executive Chairman and Chief Executive Officer
Co-Founder and Director
Vice President of Finance
Chief Government Innovation Officer
Senior Vice President of Clients and Partners
Compensation as of Fiscal Year 2015.

InnoCentive, Inc. Key Developments

NASA Partners with InnoCentive to Crowdsource Innovation Initiatives

InnoCentive Inc. announced they were chosen to collaborate with NASA on their open innovation initiatives in human space exploration. NASA is turning to the public and crowdsourcing for outside-the-box thinking about human space exploration challenges with a series of 10 new NASA Open Innovation Service (NOIS) Contracts. The first challenges to be launched under the new contract will seek new algorithms to improve Robonaut's tool use in novel ways that could take advantage of materials found on asteroids, the moon or Mars for both space and Earth applications. Future challenges will seek help in developing improved textiles for planetary exploration spacesuits and other useful technologies as NASA continues its evolvable Journey to Mars strategy. The total value of all contracts combined is $20 million over five years. The challenges will be managed under the umbrella of the NASA Tournament Lab (NTL) which was established by NASA and Harvard University in 2010 and consists of various open innovation platforms and competitions. The idea is to create the most innovative, efficient and optimal solutions for specific, real-world challenges being faced by NASA researchers. The NTL offers an on-line virtual facility for NASA researchers to order a solution just like they would order laboratory tests or supplies.

InnoCentive and Strategos Form Strategic Alliance

InnoCentive Inc. and Strategos announced a strategic alliance that will provide clients with a strategic and systemic crowd sourced innovation solution designed to develop breakthrough strategies, drive top line growth and embed innovation capability within the enterprise. By integrating InnoCentive's prize-based innovation solutions with Strategos' rigorous and proven strategic innovation methodologies, clients will be able to leverage large communities of people (crowdsourcing) to bring new expertise and diverse perspectives to bear on critical strategic questions and growth challenges. Within many commercial enterprises, the current innovation capabilities, pipelines, and portfolios are insufficient to drive growth and sustain category leadership. Crowd sourced innovation aims to alleviate these pressures -- as an augmentation and accelerant to existing internal innovation efforts -- by enabling companies to harness diverse and global communities of knowledge and talent for the purpose of increasing problem solving capacity, improving business performance, and fundamentally changing the economics of innovation.

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