FirstBuild Taps the Crowd to Hack the Home of the Future

FirstBuild Taps the Crowd to Hack the Home of the Future

GE's 2014 Global Innovation Barometer revealed that two-thirds of executives believe it is critical to encourage creative behavior and disrupt traditional business processes in order to successfully innovate. GE responded to this need by founding FirstBuild, a subsidiary that leverages an online co-creation community dedicated to the development of the next generation of home appliances. After launching last October, FirstBuild incorporated crowdfunding to expand their community and secure funding. Their product, Paragon - a Connected Induction Cooktop - exceeded its $50,000 funding goal on Indiegogo in 12 hours and reached over $282,000. In April, FirstBuild will host a 24-hour Hackathon to further develop innovative appliances using products from sponsors like GE and Intel.

View

More Innovation Resources:

Creating Strategic Impact - What Is Strategic and What Isn't?

Cutting costs and saving a business is strategic. Strategic decisions should be made based on what's important to the organization's success, including core values, vision, brand, key audiences, and financial prospects.

View

How to run a successful employee suggestion program

Creating an employee suggestion program can lead to benefits such as increased engagement, efficiency, continuous improvement, cost savings, and communication. Here are seven tips on how to run a successful one.

View

The Right Time will Never Come: 5 Steps to Execute Your Idea

Learn how to execute your idea and overcome procrastination by setting goals and taking action with these five steps.

View