Ideaken is a collaborative innovation management tool. This SaaS product targeted towards medium to large scale enterprises lets you define a problem and invite collaborators to submit innovative solutions. You can then evaluate the solutions and reward the most deserving one. One can choose to invite the whole web to contribute or a specific set of employees within your organization.
The rewards must in cash from non-enterprise solution seekers, minimum $1000. Ideaken charges 10% of the reward as fee. The whole packaging of the product is impressive but on the price point it might need a reconsideration. With $200/month + 9% of cash awards from enterprise clients they are making sure that only the bigwigs signup.
Though innovation is a must for organizations to survive but i doubt how such tools contribute towards it. It is more of a cultural and management shift required to innovate than to install such tools. All said, Ideaken’s tool is addressing the future of innovation at large enterprises and through partnership with social media consultants they would be able to pull up some good deals as well.
And interestingly it is also registered in Singapore.
Do give it a spin and if you think you can innovate, watch out for the problems that they throw.
[Naman is a startup enthusiast and has worked with couple of Indian startups as Product Manager. He is the founder of FindYogi]