IDEAPOKE Announces Next Generation Technology Scouting Platform for Innovation 2.0

IDEAPOKE, the first Indian company to provide technology scouting and 'Innovation As A Service', today announced the launch of its next generation 'Innovation 2.0 technology scouting platform' that will enable technology collaboration and open innovation in the industry. End Quote

(1888PressRelease) November 18, 2015 - BANGALORE, India. - With a growth rate of almost 30% MoM, Ideapoke is looking to capture 20-25% of the estimated $1.5 billion revenue opportunity for open innovation over the next 4-5 years. The global market is estimated at $7.3 billion. The new platform extends clients' ability to solve critical business and technical problems by tapping the diverse technology expertise and thinking of communities outside of a company and their own research & development environments.

IDEAPOKE lists a database of 980,000+ technologies, 76,000 companies across the globe doing niche R&D in different areas and 1900+ universities globally and at present doubles its database once in every six months. By 2016, IDEAPOKE will provide over a million technology innovation listings. With Indian companies gradually opening up to and investing in open innovation in the last few years, Ideapoke today works with some of the biggest organizations across the FMCG, Manufacturing, Automobile, Consumer Electronics, Chemicals, F&B and Packaging sectors.

Explaining the market opportunity, Anup Sahoo, Founder, IDEAPOKE said, "Today, the world's leading corporations, Government, investors and leading technology companies value an idea against its potential for commercialization in the market and recognize that a number of such ideas can emerge only from co-creation and collaboration. To be ahead of growth curve, in today's complex and evolving market place, companies or businesses must find right ways to innovate faster and create market ready products. In such a scenario, 'Open Innovation' is becoming the key phase of cutting edge product development processes. The IDEAPOKE platform allows organizations to utilize the power of diverse knowledge outside of organizational silos and initiate collaboration to solve important business challenges- regardless of geographical boundaries".

"IDEAPOKE's vision is to democratize innovation and create a business platform that facilitates 'Innovation as a Service'. Our online platform deploys proprietary technology using big data analytics and matching algorithms to crowdsource technology partners across the globe and collaborate with the best solution providers. This enables customers solve their R&D and product development challenges to drive innovation with measurable business results. At its core, IDEAPOKE taps collective intelligence by involving knowledge workers in defining and creating product or service offerings, thus enhancing the value for both consumers and companies alike and resulting in innovative products", said Sanjay Sahoo, Co-founder & VP- Operations, IDEAPOKE.

About IDEAPOKE
Started in 2012, IDEAPOKE is the first Indian company to provide technology scouting and 'Innovation As A Service'. Having offices in Bangalore and CA in USA, it provides an online platform that enables open innovation. IDEAPOKE has helped enterprises across business verticals to innovate better through technology scouting and open innovation. The company has built a global online community of 980,000+ technologies, 76,000 companies across the globe providing solution partners for niche R&D problems in different areas and 1900+ universities globally and the database continues to double once in every six months. For more information, please visit www.ideapoke.com.

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