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August 09, 2007

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Bruno, hi

I recently read your article on "Challenges for Creative Minds" and thought I would introduce myself. My team has been running online innovation competitions for 5 years using our process, philosophy and a software platform we created that automates idea competitions. Some of the companies we work with include Hilton, AMEX, Red Hat, Whirlpool, Harley-Davidson, IBM and recently foundations in the US (HopeLab) and internationally.
You can check out some of our competitions:
www.innovationchallenge.com (over 2000 participants)
www.redhatchallenge.com
(over 1000 participants)
www.ruckusnation.com (will launch on 8/15)

I agree with you and think we will see the market of innovation competitions increase rapidly especially with foundations who are experimenting with the "prize philanthrophy" model and are trying to replicate the success of the World Bank's Development Marketplace.

However, do you think that organizers expect to accelerate innovation by dangling large sums of money as the reward? Or do you think that organizations are experimenting with a new (and hopefully more efficient) way to fund ideas vs grants?

It would be interesting to speak with you about this topic and share views.

You can listen to my perspective on a recent podcast:
http://www.biztechtalk.com/2007/08/crowdcasting-an.html
or the Business 2.0 article:
http://money.cnn.com/2006/11/20/magazines/business2/crowdcasting_whatworks.biz2/index.htm

Sincerely,

Anil Rathi
President & Founder
Idea Crossing,Inc.
323-924-9080

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