“GrowBets” is an internal Idea Management competition in Novozymes, whose intention is to stimulate creativity across organisational boundaries and accelerate the development of inventions with high growth potential. Recently Novozymes published a study of the results.
Nosco was involved in this process as software providers for the online collaboration (Nosco App) and as consultants for Ideation sessions – two important disciplines during the competition.
The overall process was successful and the outcome lived up to the predetermined goals:
“As of August 2012, two ideas had been launched as projects; one of these represented a radical, albeit risky innovation that held the promise of opening up an entirely new enzyme application in a new field,” the article states.
Novozymes additionally concludes that the competition inputs recombined existing knowledge with new ideas and resurrected old proposals that inventors had not previously been able to advance in the organisation. Furthermore “the process demonstrated that asking participants to comment on proposals improves idea generation and screening and that active involvement of R&D management is a key success factor in any idea competition”.
Read the article to gain more knowledge HERE