Disruptive Technology drives Start-ups Through Funding and Mentoring

Insight Innovation, a recently launched platform that aims to help the marketing research and consumer insights industry adapt to the rapid change due to surfacing technologies and innovative ways of gathering business intelligence, has just announced that submissions and voting for the Insight Innovation Competition are now open.
The Insight Innovation Competition is an initiative to identify innovators whether they think of their solution as market research related or not, while supporting these firms through funding and mentoring from experienced professionals that can help them succeed.

The Insight Innovation Competition follows on from previous contests, which was won by notably by Decooda, a company that started out analysing social media but went on to develop an ‘MR Assistant’ that automates the coding of open-ended responses within surveys.  Here’s how it works the panel will use an ideation ratings platform powered by eCGlobal Solutions to have participants submit their new product ideas and go through a crowdsourcing process where the industry will vote on which ideas have merit. Based on popular vote, we will announce five winning concepts.

Submissions are invited between now and 15 February 2013. The first round of voting takes place via an ideation-ratings platform developed by eCGlobal. Here, interested parties will be able to evaluate the submissions and vote for their favourites. The top five concepts emerging from the crowdsourced vote will then go before a panel of judges for a live voting round at the upcoming Insight Innovation Exchange conference in São Paulo.

Judges include Suzana Pamplona Miranda of Johnson & Johnson, Imran Anwar of Microsoft and Guy Rolfe of Kantar.

Insight Innovation chairman Lenny Murphy said: “We are particularly interested in disruptive innovation that helps brands engage and connect with consumers or enhance the business intelligence collection and curation process.”

“We know that innovation doesn’t always come from within the industry. We also know that the combination of innovative thinking and the financial resources to bring that innovation to life can be hard to come by. Additionally, it is vital that innovators have access to mentors that can share their experience and help them build successful businesses. The Insight Innovation Competition aims to not only recognize innovation but give budding entrepreneurs an opportunity to bring their visions to life,” said Leonard Murphy, Insight Innovation Chairman and Producer who has been regarded as the most prolific expert in the application of technology to marketing insights.

“Innovation of the insight generation space is not an option anymore; it is an imperative. But innovation doesn’t merely come from looking or acting differently; it comes by thinking differently. That means we have to identify individuals or small firms that are approaching the issues the marketing research and consumer insights industry needs to solve in ways that many may not be thinking of. We need to identify innovators who have the solution to our problems, regardless of their background or perceived industry fit.,” Murphy added. “We are particularly interested in disruptive innovation that helps brands engage and connect with consumers or enhances the business intelligence collection and curation process,” he added.

Submissions and voting are now open and will run through February 15, 2013. The Insight Innovation Competition will use an ideation-ratings platform powered by eCGlobal Solutions to have participants submit their ideas and go through a crowdsourced voting process where the industry will vote on which ideas have merit. Based on popular vote, five winning concepts will be announced. Finalists will then present their ideas at the Insight Innovation Exchange in São Paulo to a panel of judges and conference attendees in a live voting round. Each company will have 10 minutes to present their idea, which will be judged using a ten-point scale for five categories:

  • originality of concept
  • presentation quality
  • market potential
  • scalability
  • ease of implementation.

The panel of judges will be comprised of leaders in technology, innovation, the insight industry, and related sectors such as Suzana Pamplona Miranda of Johnson & Johnson, Imran Anwar of Microsoft, Andres Barreto of Atom Accelerator, Guy Rolfe of Kantar, and Jonathan Ewert of TransForMedia. The winner will get a cash prize of at least $20,000, exposure to a broad global audience of potential clients and partners, and an opportunity to work with senior leaders within the technology and market research space.

For more information on the competition and to learn more about how to submit an idea or vote, visit www.iicompetition.org.

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