OpenInvo: Helping To Capitalize Great Ideas

Ideas are a dime a dozen, but execution is what really matters. Executing on a new idea can be difficult due to lack of time, resources and other commitments to current products, customers, employers, etc. So what does one do? In most cases, the idea will simply drift off into the vast graveyard of ideas forgotten. But OpenInvo is a new offering looking to change that by bridging the gap between people with great ideas and the companies that seek them by creating a marketplace for ideas. OpenInvo exists to help anyone with a good idea to capitalize on it.

OpenInvo is a New York based startup that provides companies access to a vast pool of creative ideas and uses their own system to determine the value of these ideas, thus compensating creatives for their innovations. Pricing is based on how developed the idea is, market size potential, and what the retail price may be for the end product. Once someone uploads their idea for a new product or service, OpenInvo acts as an agency to find potential buyers for the various concepts, being very conscience of the creators’ intellectual property and protecting it throughout the process.

Open innovation is a concept that has been around for quite some time, but it was popularized by UC Berkeley professor Henry Chesbrough in his 2003 book titled, Open Innovation. The book promoted the idea that corporations should look outside of their own corporate culture and gather inspiration from external sources to become truly innovative and advance their businesses. This is exactly what OpenInvo is looking to catalyze.

OpenInvo was founded by Emily Lutzker, Eyal Fried and Denise Zaraya and they will be on hand at Tech Cocktail NYC on Friday, November 19th in Union Square (Bar 13) as a featured startup. Come by and talk to them about your ideas.

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Written by:
Frank Gruber is the cofounder, CEO and Executive Editor of Tech.Co (formerly Tech Cocktail). He is the author of the book, Startup Mixology, Tech Cocktail’s Guide to Building, Growing, and Celebrating Startup Success. He is also a startup advisor and investor to startups. Find Frank Gruber online and follow him on Twitter at @FrankGruber.
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