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MIT Technology Review (June 5)

2013/ 06/ 07 by jd in Global News

Of late, companies have been embracing open innovation contests to pull off low-cost breakthroughs. This approach can succeed. “Open competitions can help find an optimal solution to a well-understood problem,” but typically these contests fail to deliver true innovation for a well-known reason. “Real innovation is always the outcome of ongoing discourse among a small group of innovators who truly understand the importance of what they’re working on. No matter where we look, from the American Revolution to the digital revolution, it’s always a small group of obsessed individuals who know and talk to each other that are responsible for big innovations. As John Stuart Mill observed: ‘Persons of genius, it is true, are, and are always likely to be, a small minority.’”

 

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