Social Media Week Paris 2012 : Ideation, Co-creation, Co-innovation process in companies: issues and limits02/24/2012 by Elise Vermersch
On the occasion of Social Media Week Paris 2012, 90:10 FRANCE organized a one-day conference at the European Communication School on February 14th. This event gave the opportunity to discover two different topics that affect both companies and consumers: the Co-creation & co-innovation process and Change Management.
Ideation, Co-creation, Co-innovation process in companies: issues and limits
The first topic of the day: co-creation, with the participation of an interesting discussion panel composed of entrepreneurs that work in these fields.
The co-creation and ideation process: eYeka
eYeka is the global market leader in online consumer co-creation with a community of 200,000 creative consumers from 94 countries that helps companies generate fresh creative ideas, unlock innovation opportunities and drive consumer engagement at a global level, in a matter of weeks and within a confidential, IP protected environment.
During his speech, François Pétavy, eYeka’s CEO, insisted on the idea that the co-creation process was the occasion for companies to get away from a closed innovation process that limits and curbs its creativity. It’s about a “Value creation philosophy”.
The eYeka process of value creation is totally innovative and based on the entire cooperation of consumers who have the chance to express their creativity in a mode that suits and engages themselves:
“The co-creation is the end of a secret culture in companies”
A concrete example of this process is the “HUMPO” project, an original idea for teenagers: the “Humpo” is a little device in the shape of a little figure that is ideally connected through wireless technology to a cell phone. The more you make grammar mistakes, the more the figure lightens up.
Nevertheless, the co-creation and ideation process is also a synonym of risk as François Pétavy explained, because “all companies work on the same project at the same time. You just have to be the first one on the market”.
Co-creation and ideation can also take place in daily life. Let’s see the example of Nod’A.
A collective innovation process that makes creativity real: Nod’A
Nod-A is an innovative network composed of engineers, students, designers.. that work in a common objective to build an open and agile innovation process that accelerates the development and dissemination of it.
For this, Nod’A created a dedicated time for collaborative co-design, development and implementation of innovations : SmartMobs.
Muséomix is a concrete example of a collective innovation process in a public museum that engaged during three days multidisciplinary teams composed of attendants and visitors that work together in order to develop new ways of visiting the museum.
The co-creation process is highly linked to the formulation of ideas as we have seen previously, but it’s also a process to accompany and make projects come true.
In this context the crowd funding is an innovative device to build creative projects.
The Crowdfunding revolution : Kiss Kiss Bank Bank
What is Crowdfunding?
- Financing your projects by raising funds with your family, friends and an on-line community.
- Keep 100% of the intellectual property of your projects.
- Forge a link with your contributors.
- Support projects that you like.
- Discover new talents.
- You personally invest in the projects you have chosen.
- Share these projects with friends.
The Crowd funding market is divided in 4 different sectors.
The main activity is dedicated to loans between individuals directly but the creative projects funding in which Kiss Kiss Bank Bank works, is more and more significant.
According to Vincent Ricordeau, CEO and co-founder of the company, the crowd funding activity works without a ROI logic in contrast to Entrepreneurship. Contributors’ incentives are totally linked to the project as a script signed by a film maker for example.
Nevertheless, the crowd funding market is already congested with a lot of actors, leading to a high competition between companies.
The European market is well positioned in the world but in France, the legislation is still a problem since it limits crowd funding activities to banks.
“Internet allowes each project to have a chance to be financed by the public”
Vincent Ricordeau, Kiss Kiss Bank Bank CEO