Innocentive is a fantastic idea and is obviously proving to be successful.
"InnoCentive is where organizations turn to solve problems that matter. We help companies innovate better, to find the fastest path to solutions. Novel ideas and new approaches are crucial if a company is to survive and thrive."If you have a technical capability go to the webpage and join up. (You need to go to the website to understand the rest of this post).
The problem that I found with it was that I wasn't playing on a level field: a considerable number of the other solvers were academics. They were using their institutes' money (facilities / time) in order to line their own pockets - when they took on a project, they could do it at leisure. If I took on a project, it had to pay. I was taking on a risk, whilst competitor academic solvers where not taking on this risk. A consequence of this is that the people who set the challenges did so - wittingly or otherwise - such that, largely, they were only feasible for academics to solve.
So sadly, now I'm out.
Obviously there are exceptions to these observations and I wish Innocentive well. I'm simply railing against the effect of State spending leading to the crippling of innovation.