The Open Innovation Renaissance
The Manufacturer website noted that prize competitions have long been used to solve problems. But despite their usage in the 1800s and 1900s, prize competitions languished throughout much of the 20th century. However, a communications and information-driven renaissance is driving a resurgence in open innovation that is taking it from an occasionally-used, big-money governmental instrument of the past, to an everyday tool that is revolutionizing the way we work and innovate. Many organizations have embraced this tool, recognizing the importance of connecting with talented individuals from outside their four walls.
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