A leading African manufacturer of health and beauty products in South Africa has launched a new challenge on the Open Innovation Solution Exchange, a platform hosted by The Innovation Hub in Pretoria. The health and beauty manufacturing company is actively researching the field of single, unique solutions for creating even-toned, smooth, long-lasting matte (oil-free) facial skin and is looking for innovations to either use in combination with its own solutions or a new one that can create further breakthroughs in the market.
The Innovation Hub's Open Innovation Solution Exchange platform was launched in November 2012. The Innovation Hub, Africa's first internationally accredited science and technology park, is a subsidiary of the Gauteng Growth and Development Agency (GGDA), an agency of the Gauteng Department of Economic Development.
The health and beauty challenge was posted anonymously due to the competitive nature of the industry and the potential business value the solution may bring. The first eight challenges posted were between November 2012 and May 2013 as a pilot and drew numerous responses, from small to medium-sized enterprises (SMEs), universities, research institutes and both local and international companies. The majority of challenges were successfully matched with solutions, leading to either joint ventures or purchase agreements between challenge owners and solution providers.
The Innovation Hub's CEO, McLean Sibanda said: "This challenge, from a leading African manufacturer of health and beauty products, shows confidence in the Solution Exchange Platform as a key enabler of open innovation in Gauteng and, increasingly, in the rest of South Africa. The outcomes and lessons learned from the pilot project will be released soon and this will hopefully contribute to a greater awareness and understanding of open innovation as South Africa gears up to compete in the knowledge economy. Open innovation complements our value offering as a science and technology park and is one of the tools used to fulfil The Innovation Hub's mandate as an innovation catalyst for a smart province."
Open innovation has become an established management practice throughout the world; however, in South Africa, it is still an emerging practice. While the benefits of open innovation supporting multi-helix collaboration are clear, there remains some scepticism around intellectual property issues, credibility and mediation roles. It is in this regard that The Innovation Hub has taken the lead in providing a neutral platform for bridging the innovation chasm, facilitating collaboration among government, industry and academia while leveraging global innovation partnerships. This new challenge represents a significant opportunity for potential solution providers from universities, research institutes, SMEs and large entities across the country.
Proposals are invited from individual inventors, scientists, SMEs, research and academic institutions, universities, and companies. Interested parties are encouraged to register and submit their responses online at http://www.exchange.theinnovationhub.com. The response deadline is 31 January 2014.
Solution seekers looking to post challenges on the platform should contact the Open Innovation Solution Exchange resource team at The Innovation Hub.
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