Glossary
Innovation Challenge
An innovation challenge can be seen as an extended version of an idea campaign with a more ambitious topic, a wider reach in terms of participants, a greater communication effort, and a more ambitious process from ideation, over idea maturation, to pitching and awards ceremony…
Definition
An innovation challenge can be seen as an extended version of an idea campaign with a more ambitious topic, a wider reach in terms of participants, a greater communication effort, and a more ambitious process from ideation, over idea maturation, to pitching and awards ceremony.
Done right, the innovation challenge is a very effective tool to create a more innovative culture within a company. It involves all levels of the company: the leadership team sets the direction and decides which ideas to invest in. Managers learn how to motivate employees to look for new innovative solutions, and selected employees are trained in methods to mature and validate their ideas. The innovation challenge can thus contribute to building an entrepreneurial mindset through new successful ways of working and developing innovation skills across all levels of the company. Externally, the innovation challenge is an efficient means of sourcing ideas from start-ups, clients, researchers and more.