Top 5 Benefits of Crowdsourcing and Open Innovation: The Big Picture

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As I am working on a talk for the upcoming Crowdsourcing Week conference, which takes place in Singapore on June 3-7, I got to wonder what the top benefits of crowdsourcing and open innovation have been for the general society.

Here you get my takes on the big picture:

1. Sharing is the new norm

Companies all over the world now have a different perspective on innovation in which sharing is the new norm. True, many companies do not yet get this and many others are struggling on how to make it work, but there is no way around sharing and collaboration when it comes to innovation any longer. This will definitely help bring out better innovation faster and as such this helps the overall society.

2. Crowdfunding makes it easier to be an entrepreneur

As an entrepreneur, you will always have the usual struggles of developing an idea that can turn into a viable business, but at least we now have a new way of funding this growth through Kickstarter and the many other companies that make up the crowdfunding movement.

3. A more effective government and public sector

It is great to see how public institutions and government organizations have begun to embrace crowdsourcing and open innovation. This helps make this sector even more effective and thus everyone wins here. You can find some of my work on this space here.

4. More freedom and prosperity

If you throw in social media to the above three issues, we have a chance to develop more prosperous and free societies. Yes, this is a big one, and I not fully sure how this will play out, but the chance is there.

5. Your input?

I have shared some quick thoughts here. I am leaving the fifth spot open for your suggestions. What would you add for this list?

Let me get back to the Crowdsourcing Week. This is actually a pretty cool conference format and I like how the organizers would like to to educate decision makers on the power of the crowdsourcing ecosystem and the positive impact it can have on the brand and its stakeholders.

If you want to join me at this conferencem then I am pleased to be able to offer the first 5 to sign up a 25% discount if you use this code SL25 (offer expires on May 6).

Let’s meet up in Singapore!

Republished with author's permission from original post.

Stefan Lindegaard
Stefan is an author, speaker, facilitator and consultant focusing on open innovation, social media tools and intrapreneurship.

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