InnoCentive

OverviewSuggest Edit

InnoCentive adopts a crowdsourcing model known as Cloud Labor. InnoCentive crowdsources innovation solutions from the world’s smartest people, who compete to provide ideas and solutions to important business, social, policy, scientific, and technical challenges. Our methodology is called Challenge Driven Innovation™, an innovation framework that accelerates traditional innovation outcomes by leveraging open innovation and crowdsourcing along with defined methodology, process, and tools to help companies develop and implement solutions to their key problems, opportunities, and challenges.
From idea creation to idea management to solutions management, InnoCentive offers user friendly innovation platforms to assist companies and government agencies with their current innovation needs. InnoCentive allows companies to tap into the wisdom and innovative capacity of a problem Solver network of more than 355,000 Solvers in order to find solutions to a company's difficult problem(s), or "challenges" while the Solvers can focus on a range of challenging problems with the hope of receiving a financial reward.
For more than a decade, leading organizations such as AstraZeneca, Booz Allen Hamilton, Cleveland Clinic, Eli Lilly & Company, NASA, Nature Publishing Group, Procter & Gamble, Scientific American, Syngenta, The Economist, Thomson Reuters, The Department of Defense, and several government agencies in the U.S. and Europe have partnered with InnoCentive to rapidly generate innovative new ideas and solve problems faster, more cost effectively, and with less risk than ever before.

TypePrivate
Founded2001
HQWaltham, MA, US
Websiteinnocentive.com
Employee Ratings3

Latest Updates

Employees (est.) (Jan 2021)38
Cybersecurity ratingAMore

Key People/Management at InnoCentive

Alpheus Bingham

Alpheus Bingham

President, Co-Founder and Chairman
Donald C. Wheeler

Donald C. Wheeler

Director
Peter Erickson

Peter Erickson

Director
Richard Barletta

Richard Barletta

Senior Vice President of Finance and Administration
Jon Fredrickson

Jon Fredrickson

Vice President, America's, Chief Innovation Officer
Steven Drew

Steven Drew

Vice President of Business Development, EMEA
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InnoCentive Office Locations

InnoCentive has offices in Waltham and London
Waltham, MA, US (HQ)
265 Winter St
London, GB (HQ)
344-354 Grays Inn Rd, Kings Cross
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InnoCentive Financials and Metrics

Summary Metrics

Founding Date

2001

InnoCentive total Funding

$30.3 m

InnoCentive latest funding size

$7.50 m

Time since last funding

9 years ago

InnoCentive investors

InnoCentive's latest funding round in October 2011 was reported to be $7.5 m. In total, InnoCentive has raised $30.3 m
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InnoCentive Revenue

Cash (31-Dec-2018)

4.6k
GBPFY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

61.4k49.8k163.9k74.8k210.9k3.3k7.6k5.8k4.6k

Accounts Receivable

4.8k49.2k87.7k90.7k13.4k3.6k4.5k88.1k

Inventories

Current Assets

66.2k49.8k253.9k162.5k301.6k445.8k38.5k21.8k99.8k
FY, 2010

Financial Leverage

2.2 x
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InnoCentive Cybersecurity Score

Cybersecurity ratingPremium dataset

A

91/100

SecurityScorecard logo

InnoCentive Online and Social Media Presence

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InnoCentive News and Updates

InnoCentive Working with World Vision for New Ideas to Improve Sanitation and Health for Children in the Developing World

Global nonprofit using open innovation firm to help address inadequate sanitation, which can lead to disease and death

InnoCentive Supports Habitat for Humanity in the Capture of Ideas to Improve Housing Quality and Safety in the Philippines

Global nonprofit uses open innovation firm for ideas around earthquake- and typhoon-proof foundations

Wazoku Acquires US Open Innovation Leader InnoCentive and Raises Additional £1.25M to Support Global Growth

Idea management scaleup creates unique proposition for crowdsourcing, idea management and open innovation on one platform

InnoCentive Partners With Wazoku to Create the World's Most Powerful Innovation Platform and Community

WALTHAM, Mass., Feb. 11, 2020 /PRNewswire/ -- Open innovation firm InnoCentive has announced a major new partnership with U.K. idea management scaleup Wazoku, which will create the world's most comprehensive and powerful innovation platform and community. Wazoku's Idea Spotlight...

InnoCentive Blogs

Using Every Mind from Every Generation to Defeat the Coronavirus

On January 1, 2020 the world was much different than it is today…we are now learning daily/hourly just how different it really is.  There are lessons we must now, and are, quickly learning.  While governments and healthcare professionals are fighting against the Coronavirus, there is hope that burns…

InnoCentive partners with Wazoku to create the world’s most powerful innovation platform and community

Global partnership delivers a unique proposition for any organization seeking to solve business challenges and drive innovation Waltham, MA - 11 February 2020 – Open innovation firm InnoCentive has announced a major new partnership with UK idea management scaleup Wazoku, which will create the world’…

Reclamation awards $75,000 for ideas that lower cost of continuous streamflow monitoring

The Bureau of Reclamation partnered with the U.S. Geological Survey for a prize competition seeking innovative ideas to significantly reduce the cost of continuous streamflow monitoring compared to current methods while also increasing the availability of streamflow data. Accurate and reliable recor…
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InnoCentive Frequently Asked Questions

  • When was InnoCentive founded?

    InnoCentive was founded in 2001.

  • Who are InnoCentive key executives?

    InnoCentive's key executives are Alpheus Bingham, Donald C. Wheeler and Peter Erickson.

  • How many employees does InnoCentive have?

    InnoCentive has 38 employees.

  • Who are InnoCentive competitors?

    Competitors of InnoCentive include DefinedCrowd, Qualitrix and Thoughtexchange.

  • Where is InnoCentive headquarters?

    InnoCentive headquarters is located at 265 Winter St, Waltham.

  • Where are InnoCentive offices?

    InnoCentive has offices in Waltham and London.

  • How many offices does InnoCentive have?

    InnoCentive has 2 offices.