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Ideapoke helps biz to innovate faster with new technology scouting platform

Ideapoke launched its next generation ‘Innovation 2.0 technology scouting platform’ that will enable technology collaboration and open innovation in the industry

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Soma Tah
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BANGALORE, INDIA: Ideapoke launched its next generation ‘Innovation 2.0 technology scouting platform’ that will enable technology collaboration and open innovation in the industry. The new platform extends clients’ ability to solve critical business and technical problems by tapping the diverse technology expertise and thinking of communities outside of a company and their own R&D environments.

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The Ideapoke platform allows organizations to utilize the power of diverse knowledge outside of organizational silos and initiate collaboration to solve important business challenges— regardless of geographical boundaries.

“Ideapoke's vision is to democratize innovation and create a business platform that facilitates ‘Innovation as a Service’. Our online platform deploys proprietary technology using big data analytics and matching algorithms to crowdsource technology partners across the globe and collaborate with the best solution providers. This enables customers solve their R&D and product development challenges to drive innovation with measurable business results. At its core, Ideapoke taps collective intelligence by involving knowledge workers in defining and creating product or service offerings, thus enhancing the value for both consumers and companies alike and resulting in innovative products”, said Sanjay Sahoo, Co-founder & VP- Operations, Ideapoke.

Ideapoke lists a database of 980,000+ technologies, 76,000 companies across the globe doing niche R&D in different areas and 1900+ universities globally. With a growth rate of almost 30pc MoM, Ideapoke is looking to capture 20-25pc of the estimated $1.5 billion revenue opportunity for open innovation over the next 4-5 years.

Explaining the market opportunity, Anup Sahoo, Founder, Ideapoke said, “Today, the world’s leading corporations, Government, investors and leading technology companies value an idea against its potential for commercialization in the market and recognize that a number of such ideas can emerge only from co-creation and collaboration. To be ahead of growth curve, in today’s complex and evolving market place, companies or businesses must find right ways to innovate faster and create market ready products. In such a scenario, ‘Open Innovation’ is becoming the key phase of cutting edge product development processes.”