IBM to Fund Ideas Hatched in ContestWith $100 Million
By JASON DEAN WSJ, November 15, 2006; Page B10
BEIJING

A great example of open innovation. My challenge to all of you is why couldn't you do something like this at a scale approprite to your company.

Toby, do you have a reaction???

International Business Machines Corp. plans to invest $100 million over the next two years to fund business ideas generated by a world-wide innovation contest, Chairman and Chief Executive Samuel Palmisano said on a trip to Beijing.

The contest, which IBM called "InnovationJam," involved contributions from 150,000 people from 104 countries, including employees of IBM and 67 of its client companies. From the 46,000 ideas submitted, IBM will invest the $100 million to develop applications in 10 areas, including real-time translation services, three-dimensional Internet technology and electronic health-record systems.

Mr. Palmisano made the announcement at a meeting of IBM's employees in China, where the technology-services company has a staff of 8,300.