Daily updates on what I’m reading
- Crowdsourcing for a Billion Dollar Business – Cisco I-Prize >> @bhc3 discusses how crowdsourcing is used by business – CLIP: "Crowdsourcing continues to grow in popularity and importance across a number of industries. Tac Andersen, at the South by Southwest Interactive event in Austin, took in the buzz there, and notes that crowdsourcing is heating up. Digital strategy, marketing and design firm Last Exit called crowdsourcing a top digital marketing trend for 2010.<br />
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With that as context, let’s discuss the Cisco I-Prize. What’s that? I-Prize is an open innovation competition where anyone from around the world can propose ideas. Specifically, ideas that can be $1 billion businesses. This is the use of crowdsourcing to find major business units. Winning team earns $250,000.<br />
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Submission of ideas to the I-Prize site, which is powered by Spigit, runs through April 30, 2010. There are already 597 ideas on the site. Anyone can post an idea, and other people discuss it. You can even request to join someone’s team if you like a proposal enough, and the idea owner thinks you can add value.
