OPEN INNOVATION: THE FUTURE OF CORPORATE RESEARCH & PRODUCT DEVELOPMENT

Big Idea Group and IdeaTango – Flag-bearers of the New Paradigm

DALLAS, TEXAS, May 7, 2008 – In the world of innovation and invention, there is a subtle shift at play that is overturning an age-old paradigm. This new phenomenon is “Open Innovation.” Companies are increasingly recognizing the fact that there is a great deal of creative talent outside its own walls.

Harnessing this creative force can prove to be immensely beneficial in helping companies develop products. In a world where knowledge is widely distributed, companies are bound to lose their edge of innovation if they rely only on their own research; so instead they are embracing the idea of buying/ licensing processes and inventions from outside individuals or companies.

“This is a movement that is also empowering the individual," says Bryan Daigle, President and Founder of IdeaTango, a website that helps connect inventors with information, tools, and resources. “Nowadays inventors, both amateur and professional, have access to a wealth of resources that allow them to easily bring their ideas into the mainstream consciousness. For example, IdeaTango helps them turn their thoughts into reality with a number of enabling features like user groups, communities, forums, documents and guides to network with other inventors and product developers.”

Just like IdeaTango, the Big Idea Group (BIG) has been at the forefront of this new movement, helping inventors get their ideas and inventions off the ground. BIG's open innovation resources and processes also help to powerfully augment internal efforts of companies, building a bridge between creative inventors and innovation-driven companies.

According to Michael Collins, the CEO and Founder of Big Idea Group (BIG) and author of The Million-Dollar Idea in Everyone, “I believe we're only at the beginning of the ways in which Open Innovation will change a myriad of typically closed industries.  As others recognize the need to innovate and see the benefit of breaking down barriers, talented people will have an increasing number of opportunities.”

The Open Innovation movement is here to stay. As the marketplace becomes more crowded and competitive, only companies on the leading edge of innovation would be able to make the cut. In a world of abundant knowledge, the likelihood of the next Big Idea originating from outside the four walls of a company is obviously higher. Organizations that are serious about delighting their customers will thus continually seek ways to build upon and leverage external knowledge, while focusing internal R&D efforts on filling in the gaps… seamlessly integrating external and internal knowledge into powerful systems that would allow them to take the next big leap.

About Big Idea Group (BIG)

Big Idea Group (BIG) is an open source innovation company. They complement traditional, internal approaches with an effective and efficient open innovation process. Their particular expertise is in insight discovery, innovation generation, and innovation execution. BIG is partially owned by WPP, one of the world's largest communications service groups.

For more information about BIG, visit www.bigideagroup.net

About IdeaTango.com

As seen on The Big Idea with Donnie Deutsch, local and national news stations across the country, and one of the largest technology blogs, Gizmodo, Dallas-based IdeaTango.com is a one-of-a-kind social networking site specifically created to help inventors act on their great ideas. This “ingenuity community” provides inventors interactive, collaborative, and educational tools to help inventors connect with valuable resources, and one another. IdeaTango is also the winner of the Rice Alliance 2007 "Most Promising" Web 2.0 Company award.

More information about IdeaTango.com is available at www.ideatango.com

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