Global Head of Network Platform, Brad Roberts, PhD has played an integral role in Xinova’s development into the world’s first and only platform-enabled innovation market network. Today, the company’s mission is clear: align the pillars of innovation (technology, talent, capital, and demand) to unblock innovation. Dr. Roberts shared how Xinova matured into global pioneers of the innovation market network in a webinar on Thursday, Jan. 10.
His overarching theme for 2019 is engagement. Xinova is committed to getting innovators more involved as we create more network programs, build pathways for closer engagement with customers, and provide new and more paid opportunities, like a network-managed RFx. We are hearing your feedback loud and clear, and we are dedicated to giving back feedback that will boost your innovative ambitions.
Check out the video. Lots of interesting success stats and info are shared, as well as previews of new opportunities in new fields.
Founded by elite innovators, Xinova has always sought to enable bold innovation. Originally, that meant seeking new inventions and early-stage ideas that would be bought and then licensed to companies. The match-making process of licensing IP to industry had its own successes. But in the process of acquiring a trove of IP, Xinova compiled an unrivaled network of innovators, especially inventors, with expertise across many disciplines.
That network, Dr. Roberts and his colleagues saw, was gold—a key to a new era of innovation. Xinova re-invented itself. The new business model leveraged its highly curated innovator network to solve clearly-articulated R&D challenges with partners like PepsiCo. Turns out that everything is solvable with the right network and processes in place.
To optimize its transformative potential on how innovation is done, Xinova rebuilt its platform in 2018. The result is the world’s first and only platform-enabled market network. The effects of this transformation will be of great import to both innovators and industry partners alike, as Xinova continues to seek new and diverse innovation opportunities from expansive areas of expertise.
Xinova’s global market network accelerates innovation by connecting the right problems with the right solutions from our worldwide network of expertise. We unlock and multiply the value by connecting a global market of talent, technology, capital, and demand. The Xinova innovation platform–with its streamlined review process and dynamic capacity to intelligently match people and opportunities–is pivotal to this alignment.
Opportunities are constantly expanding across industries, and new opportunities are coming online. Working with industry partners, Xinova is constantly developing new ways to leverage the network—that will mean closer engagement between network members and customers, along with new and more paid opportunities. The RFx, for instance, expanded from the Request for Invention (RFI) to the Request for Technology (RFT) and Request for Application (RFA). We are planning to deploy a network-managed RFx. Xinova also held the first Rapid Innovation Session (RIS), wherein qualified candidates were selected to ideate on a technical challenge.
The platform crystallizes innovators’ importance via engagement and outreach. Your feedback is vital and we want more of it, and we also are constantly updating and improving the way we communicate with the network and give feedback. With an ever-expanding supply of blog and newsletter content, as well as various support tools—such as webinars, explainer videos, inventor curriculum, and a pre-submission chat feature and help center—Xinova strives to equip innovators with the best chance for their ideas to succeed.
Word is catching on and ideas are catching fire. The 2018 numbers will increase as they are still being updated, but at last count, we added 1,390 members to the network, with the rate of network growth increasing by 230% in 2018. Altogether, over $962,500 USD was issued to innovators for their contributions in 2018. Of the 830 submissions to all opportunities, 44% were presented to customer (RFI, RFA, RFT) and 40 solutions (final tally will be sizably more) to RFIs were selected. The average selection rate for RFIs was 11%.
Many unique opportunities will emerge in 2019 with planned expansion into healthcare, city governance, FinTech, and various technology fields. Network opportunities are increasingly going to come online, from referral programs and solution report reviews to mentoring and other short-term opportunities. These network opportunities will come hand-in-hand with new 2019 platform features, which will foster collaboration and make submitting solutions more transparent and remove friction.
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