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Categorize the different types of innovation challenge and determine their degree of success.
Hi! Thanks for asking Wonder to categorize the different types of innovation challenges and determine their degree of success.
The short answer is innovation challenges are a powerful tool that can break down into 5 main types: ideation, build, engage, analysis/open data and accelerate. The most useful sources I found in my research were from Bright Idea, Harvard Business Review and Infoway.
All in all, there has been very little meta-study of innovation challenges, their types, and their successes. I was able to find a few articles which spoke about innovation challenges generically, giving some insight into the different types and considerations, but there has been no data collected in the public domain regarding the audience reach of the different types or sponsorship. Despite my best efforts at deep dive research, I was not able to find any quantitative data regarding measuring the 'success' of the different innovation challenge types.
Below you will find a deep dive into what findings I did have.
BACKGROUND
Innovation challenges are used around the world from all industries as a way to find creative solutions and new innovations. After all, "innovation performance depends to a large extent, from the ability of an organization to access new knowledge sources and connect those with previous knowledge in an innovative way." They are also seen as a cost-saving mechanism, as the only 'fee' is the prize money and judging time, rather than the very expensive alternative of hiring consultants/consultancy firms. Innovation challenges are a form of crowdsourcing, using the hive mind to solve problems or create new ideas. Challenge hosts have also found than entrants take them more seriously than expected, putting in more effort than one would think the average competition participant would, as the reward of "just getting noticed" is often the best incentive.
TYPES
There are 5 different types of innovation challenges that an organization or company can run. Choice of which type should not be based on any 'success rate' (which does not seem to exist), but rather which is more appropriate to the challenge or problem looking to be solved.
1) Ideation
To come up or generate new ideas, addressing a specific question or problem. This type of challenge may connect participants with each other or provide certain resources to the participants.
2) Build
This type of challenges looks for participants to build prototypes, services or products that address a specific problem. After the challenge, this type may involving testing or piloting with intended users (or even using this as part of the judging process).
3) Engage
This challenge asks participants to raise awareness, build communities, educate or mobilize people around a topic. This type of 'challenge' is less common for "innovation challenges" but is still used to recognize leaders or best practice examples.
4) Analysis/open data
This type of challenge seeks answer through data and/or data analytics. Challenge hosts may choose to provide datasets to participants or part of the challenge may be to collect or collate their own.
5) Accelerate
This innovation challenge types takes things like prototypes or pilots and asks participants to help move them to the next phase. This might involve scaling or spreading the use of the product or service with a specific goal or outcome in mind.
Additionally, some innovation challenges will combine multiple types, such as ImagineNation's Data Impact Challenge II which used an ideation challenge to source questions, and analysis/open data to then yield the answers. However, be wary of combining too many steps as this make the challenge's goal become hazy and judging criteria too subjective. According to Harvard Business Review, specificity is paramount to an innovation challenge's success. Measurable steps are needed in order to visualize the requirements of the challenge and work towards those specific goals.
If the goal needed does involve multiple steps or types, consider making it a multi-tiered challenge. For example, if a product is needed from conception to roll-out, then first perhaps get a pool of competitors to submit ideas. From those, pick the best to then progress to the next stage of building, and so on. This way, contestants get actionable, tangible feedback on their ideas and only those on the most fruitful path will invest more time in a challenge.
MEASURING SUCCESS
While a lot of us might think of innovation challenges as open competitions, some are run internally. Cisco, for example, hosts a plethora of innovation challenges to spark ideas and accelerate development. Cisco's Senior Director for innovation gives some ideas on how one can measure the success of an innovation challenge:
"In our external programs, we measure success through the number and quality of relationships we forge with partners, unique co-innovations that emerge from them, and customer adoption of the solutions. Internally, we measure things like employee engagement, formation of informal networks, or the growth and strength of our community of innovation mentors and coaches. We also look at the impact of the program on attracting and retaining the best talent and uncovering novel technologies and business models."
1) Provide a clear and defined goal.
2) Ensure total transparency.
3) Full visibility for both the contest and participants.
4) Formalized selection criteria.
5) Professional judges and appropriate rewards to the level of effort (rewarding participation is also key, as there only ever a couple winners).
SPONSORS
There can be some confusion on which element of an innovation challenge should come first - the challenge or the sponsor? One of the best ways to find a sponsor is to identify a business need that you can solve on their behalf. This way, you have a greater chance of success will someone more deeply invested in the challenge's outcome. Sometimes a challenge organizer will not have the challenge in mind first, but instead meet with executives to investigate potential problems that need solving. Once you know what needs to fixed or solved, they need be 'sold' your innovation challenge as a solution.
It is vital to ensure the challenge sponsor has decision-making power over things like funding and ideas. There's little point getting someone on board who cannot actually green-light any ideas.
It is also important to keep sponsors informed after the challenge is over - any further steps, measurables like ROI and analytics, and so on. This may keep the sponsor happy enough to come back for further challenges.
CONCLUSION
To wrap it up, innovation challenges are a powerful tool to gain new ideas, insights and solve problems. While no quantitative data has been collated measuring the 'success' of different innovation types, success instead hinges on how the challenge is run.
I hope this is helpful. Please feel free to ask Wonder if you have any more questions!