Open source innovation

The Business 2.0 magazine has an interesting article covering what they called “crowdcasting”, which could be seen as open source innovation. The article basically describes how established companies like General Electric, IBM and DaimlerChrysler are turning to crowds of students to foster innovation within their companies.

“This is a chance to tap into not just the best and brightest business minds in America but also the thought leaders and early adopters that are going to be our best customers down the road.”

Those companies are creating challenges for customers and MBA students where they can share their ideas and collaborate to win substantial prizes. Notice that the article refers to the phenomenon as “crowdcasting” and not “crowdsourcing” because it supposedly broadcasts the problems of a certain company to a specific, carefully selected group of individuals.

You can read the full article here.

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