Business Idea: Start An Idea Crowdsourcing in 2024
Have a game-changing idea but lack the manpower to bring it to life? Idea crowdsourcing might be the business venture you need. Essentially, idea crowdsourcing connects problem-solvers with those seeking innovative solutions, leveraging the collective intelligence of a crowd to drive creativity and problem-solving.
This business revolves around creating a platform where companies post challenges and individuals or teams submit their ideas in response. You facilitate the process and earn money through platform fees or success-based commissions. It's not just about generating ideas but about bringing diverse perspectives together to solve real-world problems and stimulate innovation.
Starting an idea crowdsourcing business involves setting up the platform, recruiting both companies and problem-solvers, and maintaining a robust system for evaluating and rewarding contributions. It’s a model that provides mutual benefits—businesses get fresh ideas, and solvers can earn rewards and recognition. It's a compelling venture for those passionate about innovation and community-building.
Revenue & Profitability
How much do idea crowdsourcings make?
Examples Of Successful Idea Crowdsourcings
Successful idea crowdsourcing businesses and case studies
IdeaScale, a B2B SaaS company with a focus on innovation, has grown to almost $750k/month by listening to its customers, investing in inbound search optimization, and prioritizing customer retention and support.
UK-based Idea Drop is a software-as-a-service (SAAS) allowing businesses to identify, refine and execute innovative ideas through its platform, which is already being used by MT, Ericsson, and the Kent Police Force, offering a public challenge facility allowing clients to crowdsource ideas, with one Covea idea implemented via the platform estimated to save the company £2.5m over five years.
See full list of successful idea crowdsourcings.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
