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. Itโs a model that provides mutual benefitsโbusinesses 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 ยฃ2.5m 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.
