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Method for generating innovation through Olympics concept

IP.com Disclosure Number: IPCOM000238206D
Publication Date: 2014-Aug-08
Document File: 3 page(s) / 41K

Publishing Venue

The IP.com Prior Art Database

Abstract

Disclosed is a method to generate innovation through competition using an Olympic Games model.

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 52% of the total text.

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Method for generating innovation through Olympics concept

Intangible assets, such as intellectual capital, are one of the core assets of any enterprise. Few companies know how to properly extract the intellectual capital from its employees to create new products, services, or patents. Thus, innovation is one of the main differentiating factors for companies; however, the market has few effective methods to generate innovation within a company.

The novel contribution is an improved method to generate innovation through competition . It provides a solution for improving the

way a company generates innovation and encourages employees to be more creative and contribute to the company's intellectual property. This is based on an Olympics-type of concept. The solution is capable of joining people and encouraging the generation of new ideas, thereby creating a culture of innovation within a company.

The solution comprises a competition using an Olympics concept that involves innovative people, mentors, and an evaluation committee. The people or employees are invited to join a competition with the goal of submitting ideas or patent disclosures . The company creates and publishes rules and regulations and invites interested people to participate . Each team meets on regular basis to discuss new ideas and concepts. The team that submits the largest number of ideas, in compliance with the predefined quality criteria and rules during the competition period, is awarded.

This method is suitable for companies of all sizes in any business segment. Each year, a company launches a new competition

with rules to fit the company's current strategic objectives. Over time, the method creates a culture of innovation among the employees. Every idea can be legally protected as a patent, article, or paper, or used as a new product or service.

To implement this approach, a company first appoints an organization committee, which is in charge of defining the regulations and inviting people to participate as mentors or as evaluation committee members. This committee is also responsible for supporting all stakeholders, including competitors. The award is also defined in advance. The regulations shall be in accordance

with the strategic objectives of the company, but in short, all competition is aimed at generating innovative ideas.

The regulations are composed of:

Challenge definition
Award

Organization Committee
Evaluation Committee

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Prerequisites Quality evaluation criteria Criteria for victory Tiebreaker Registration rules Co...