Turn your toughest operating challenges into field-ready solutions.
We run open innovation challenges for large industry. We define the problem with your team, find and back the innovators best placed to solve it, and get proven technology into your operations.
Have a challenge your industry can't solve alone? Start an Innovation Challenge with us
7
Innovation Challenges launched across energy, mining and forestry.
40
Companies brought to market faster.
$70M+
Follow-on investment placed into these innovators.
Challenge Ventures accelerates innovation to market, solving wicked challenges for large industry by linking emerging solutions to pressing performance and environmental needs.
We help you bring your ideas into action through a disciplined innovation management process based on strategic sourcing. We collaborate with your organization to:
- Develop solutions and a roadmap for your challenges and needs;
- Source solutions that are specifically tailored to meet your requirements;
- Align the solutions with your business priorities; and,
- Ensure that the benefits of your investments in innovation management are clear and understood throughout your organization.
We leverage Open Innovation and utilize a Challenge-driven methodology to identify promising innovators, novel solutions, and a risk mitigation strategy for onboarding new solutions.
How an Innovation Challenge runs
1. Define
We work with your team and your wider ecosystem to define the challenge and attract the innovators best placed to solve it.
2. Sprint
A panel of sponsors, investors and experts selects a short list of innovators for a sponsor-supported sprint, usually six months, to field a working prototype.
3. Field trial
The strongest prototype moves into field trial preparation, tested against your own stage gates and ready for your operations.
Innovation Challenges
Explore our diverse portfolio of completed innovation challenges, demonstrating our ability to drive rapid, effective solutions in various sectors.
Rapid Innovation
You need quick results in defining your challenges, understanding your company’s path to solutions and mobilizing teams to discover, test and implement solutions.
Rapid Engagement
We utilize crowd-development and co-creation models, techniques and technologies with your team, partners and participants in the innovation ecosystem relevant to your needs to define, refine and undertake initiatives that address your innovation challenges.
Rapid Results
Working with your executive team, we identify your company’s core challenges, provide you a platform to develop talent crowds to address those challenges while taking stock of external partners, intelligence and solutions. We help you move ideas to action and results with a disciplined innovation management framework.
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