Top 5 Criteria for Selecting Winning Innovation Ideas

Leveraging employee collective intelligence is an excellent way for businesses to identify winning ideas by employing crowdsourcing techniques. Crowdsourcing enables companies to capture ideas, prioritize them, and select the most valuable ones. The top five criteria used to select the winning ideas from an innovation challenge include estimating the value, alignment to business strategy, evaluating subject matter experts, estimating cost to implement, and obtaining approval from senior leaders. Unfortunately, only 58% of crowdsourced innovation teams are involved in commercializing and implementing new innovations.