The New Crowdfunding: Intrapreneurship

Nextinit: The New Crowdfunding: Intrapreneurship

Crowdfunding is a term we all already know. However, although it’s well identified with innovation and entrepreneurship, there are not many people thinking about the potential it could have in other fields; for example: intrapreneurship.

It’s a fact that organizations need innovation to survive, and they want to empower their own employees in this process. There are many specialized applications focused on fostering innovation and managing ideas, but they are not crowdfunding platforms… and the already existing crowdfunding platforms are not for companies. So, “crowdfunding for companies” is a term that could be really interesting to move “behind the firewall”.

“The Kickstarter model should be a part of the innovation infrastructure of every global enterprise that takes intrapreneurial creativity and coherent corporate culture seriously. Why not make the organization a marketplace that creates the option to tap not “the wisdom of crowds” but the “excitement of employees” or the “perceptions of personnel”?” says Michael Schrage, from the Harvard Business Review.

Empowering employees to innovate through crowdfunding means:

–       Better proposals: They are going to make an investment (of time or money) so the project involved needs to be a really good one.

–       Deeper engagement: The more they feel that their actions are meaningful, the more engaged they will be.

–       More considered participation: As they see that their contributions are important in solving the company’s challenges.

As we said before, in the market we currently have two kind of platforms: those focused on ideation management and those based on crowdfunding collaboration.

It doesn’t make sense to simply copy the Kickstarter model and try to implement it inside your organization. You would need a system to manage the projects till implementation and evaluate users’ activity. To make a perfect platform, both features should be integrated.

Nextinit is a platform using the crowdfunding methodology (in the form of an investing game), helping companies filter the best ideas proposed to solve business challenges, and helping in the management process from concept to implementation.

However, we are now moving a step forward in the process with the release of our brand new feature: “Make it happen”.

Make it happen allows users (employees, partners, stakeholders…) to contribute their time or budget to help make an idea a success (remember the importance of giving unstructured time to employees? The 20% time Google rule?).

We are committed to empowering employees to make more competitive companies and we are true believers that applying crowdfunding principles could be the right thing to do.

Because we are convinced that we can really make it happen, we can go one step forward and make ideas, with the collaboration of everyone, become a reality.