Number of Open Innovation Proposals Submitted

Related KPIs

Number of Open Innovation Proposals Submitted Interpretation

High values of this KPI reflect a vibrant innovation ecosystem, showcasing a company's ability to attract diverse ideas. Low values may indicate barriers to entry or a lack of interest from potential contributors. The ideal target threshold varies by industry but generally aims for a steady upward trend year-over-year.

• 10+ proposals per quarter – Strong engagement and innovation culture
• 5–9 proposals per quarter – Moderate activity; consider enhancing outreach
• <5 proposals per quarter – Urgent need for strategic reassessment

Common Pitfalls

Many organizations misinterpret the volume of submitted proposals as a direct measure of innovation success, overlooking the quality and feasibility of those ideas.

• Failing to establish clear criteria for proposal evaluation can lead to wasted resources on unviable ideas. Without a structured framework, valuable insights may be lost in the noise of submissions.
• Neglecting to provide feedback to proposers can discourage future submissions. When contributors feel ignored, they may not engage again, stifling potential innovation.
• Overemphasizing quantity over quality can dilute the focus on impactful projects. A flood of mediocre ideas can overwhelm teams and hinder effective decision-making.
• Inadequate marketing of the proposal process can limit awareness and participation. If potential contributors are unaware of submission opportunities, the pipeline will remain thin.

Improvement Levers

Enhancing the number of open innovation proposals requires a proactive approach to engagement and process optimization.

• Develop targeted outreach campaigns to attract diverse contributors. Utilize social media, webinars, and industry events to raise awareness and interest in the proposal process.
• Implement a streamlined submission platform to simplify the process. A user-friendly interface encourages more submissions and reduces barriers to entry.
• Offer incentives for successful proposals to motivate participation. Recognition, financial rewards, or partnership opportunities can drive interest and engagement.
• Regularly communicate success stories from previous proposals to inspire new submissions. Highlighting tangible outcomes reinforces the value of participation and encourages others to contribute.

Number of Open Innovation Proposals Submitted Case Study Example

A leading tech company, known for its innovative software solutions, faced stagnation in its product development cycle. The number of open innovation proposals submitted had dwindled to just 3 per quarter, significantly below industry benchmarks. This decline was attributed to a lack of engagement with external innovators and insufficient marketing of their proposal process. To address this, the company launched an initiative called “Innovation Catalyst,” aimed at revitalizing their approach to open innovation.

The initiative included a revamped submission platform that simplified the proposal process and made it more accessible. Additionally, the company hosted innovation challenges at industry conferences, inviting external contributors to pitch their ideas. They also established a mentorship program, pairing internal experts with proposers to refine and develop their concepts further.

Within 6 months, the number of proposals submitted surged to 15 per quarter, with several ideas progressing to pilot stages. The company reported increased collaboration with startups and academic institutions, enriching their innovation pipeline. This revitalization not only improved their product development speed but also enhanced their reputation as a leader in open innovation.

By the end of the fiscal year, the company had successfully launched 3 new products derived from these proposals, significantly boosting their market presence. The “Innovation Catalyst” initiative transformed the company’s approach to external collaboration, positioning them as a preferred partner for innovation in the tech space.