Open Innovation: What It Can Mean For Your Company

By • on July 10, 2020

The Namabia Economist website posted an article which noted that a practical example of Open Innovation (OI) is from NASA, which adopted OI to build a mathematical algorithm that can determine the optimal content of medical kits for NASA’s future manned missions. In order to reach an innovative software that can solve this problem, NASA collaborated with TopCoder, Harvard Business School, and London Business School. In this collaboration, TopCoder members provided 2,833 code submissions to help NASA build the intended algorithm. The winners were offered $24,000 in cash prizes plus having seats to watch remaining shuttle mission launches. The application of open innovation created a cost-effective and time-effective solution that could not be reached using the internal team alone.

Click here to read the full article.

Image via Flickr.

Related Posts

Related Entries

Recent Entries

Purchase viagra online and purchase it from the good to cope with dependable and trustworthy pharmacy. Don't believe of the recommendation by a mantra but instead as suggestion that is useful since that might be really a correct move to make to think about. It's not just about general ease of doing all of your buying resting before your Computer, or around no prerequisite to depart your home or stand-in point, but additionally concerning the choices you might have barely considered overall. Visit the drugstore you might have handled earlier in the event that you know the thing you need precisely. Examine the options what, why and just how if, nevertheless, you will find neither particular needs or a drugstore to go to.