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What is Crowdsourcing? Definition, Examples, and Benefits

Qmarkets

The term was popularized by Jeff Howe in 2006, when he described how businesses could leverage online communities to source innovative ideas. Cost-Effective Resource Allocation Investing in crowdsourcing allows businesses to reduce reliance on traditional R&D budgets by sourcing innovative ideas externally.

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The Gremlin Strategy, or How to Ward Off Disruption

Matthew May

Such a person is Brian Muirhead, who at age 41 in 1993 accepted the job as flight systems manager of the Mars Pathfinder project and with it the NASA challenge to land a cutting-edge, remote-controlled robotic all-terrain rover on Mars that would reliably beam back images, collect samples, and return scientific data on the red planet.

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Companies betting big on open innovation

hackerearth

[This paradigm] assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as they look to advance their technology.” ( Henry Chesbrough, 2006 ). The free flow, in and out, of ideas and IP promotes innovative ecosystems.

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Why Mark Zuckerberg and Priscilla Chan Should Use Their Money for Fundraising

Harvard Business Review

Innovation is not the big lever. What good is the most innovative program in the world if it remains perpetually and eternally miniature up against the size of the problem? Take another example: Wounded Warrior Project. In 2006 Wounded Warrior was raising about $10 million. million went to fundraising, another $2.9