Australian Open Innovation Competition: how about complete corporate transparency?

My good friends and network experts Laurie Lock Lee and Cai Kjaer are the founders of Optimice, which has recently acquired Australian rights to the Enterprise 2.0 ideas management software Spigit. The platform is used to power, among other initiatives, the Cisco i-Prize, which gives prizes of up to $250,000 to external teams for generating ideas for Cisco’s next billion-dollar business, and Pfizer’s internal innnovation initiatives.

Features of the platform include reputation scores for contributors, ideas trading markets to buy and sell ideas, and participation-based currency with redemptions, all of which can create a real marketplace for ideas inside organisations.

To launch the service Optimice, in association with the Australian Innovation festival, has organized an open innovation on-line competition using Spigit. They are soliciting ideas in the categories of:

* A Better Future for Our Children

* The Connected World

* The Recovering Economy

* Sustainable Environments.

To start off my participation in the innovation market, I put forward this idea in the connected world category:

Complete corporate transparency

Companies have to give public access to full information on everything they do. Profits, costs of sales, salaries, performance reviews, product and sales pipelines, internal memos etc. etc.

In this world, only the best will win. Employees, investors, and clients will be able to make the best choices.

This will give rise to an enormous industry of analysing all the newly available information. Through that, the economy will be vastly more efficient.

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