Theoretical and Proof-of-Concept Challenges
Get Innovative Solutions for Your Business
What are Theoretical and Proof-of-Concept Challenges?
For these two types of challenges, the clients (Innovation Seekers) request proposals for innovative solutions.
Theoretical – Solvers submit their solution ideas for solving the client's challenge along with detailed descriptions and supporting information.
Proof-of-Concept – Solvers are requested to submit a detailed description of the solution and also to prove their concept by providing either a working prototype, or supporting data.
IP transfer and payment of an award to Winner(s)
The winning Solver must transfer the IP rights to the Innovation Seeker or grant the Innovation Seeker a non-exclusive license to use his/her submission. After the evaluation period, the Innovation Seeker retains no rights to IP not awarded. If an award was paid to the Solver and the IP was transferred to the Innovation Seeker, the Solver retains no rights to the IP related to his/her submission. If a non-exclusive license was requested by the Innovation Seeker, the Solver retains the intellectual property rights to the submitted solution and the Solver grants the Innovation Seeker a perpetual, royalty-free and non-exclusive license to use any information included in the solution. The Innovation Seeker has the right to further develop the idea or concept provided by the Solver and to use the derivative works.
Once the winner is chosen by the Innovation Seeker, the winner will need to sign and notarize an Intellectual Property Transfer Agreement and sign, and have his/her employer sign, an Employment Waiver and Release of Assignment form, indicating that they have the right to transfer the ownership of the accepted solution and the related intellectual property. Once we have received the signed documents, we transfer the award to the Solver.
The award amount is determined by the Innovation Seeker. There is no restriction on the minimum award amount although higher awards will usually result in a greater interest from Solvers. Absolutely no fee is due if the client has not received a satisfactory solution. The award and the administrative fee (equal to 30% of the award amount) are payable only after solver has transferred the IP to the client or after the winner was picked if a non-exclusive license was requested in the challenge description.
1. The client (Innovation Seeker) submits a challenge to We Bridge Innovation (WEBI):
- The Innovation Seeker submits the Innovation Crowdsourcing Order Form in which he/she gives a detailed description of the challenge to be posted on our website. If requested by the Innovation Seeker, we will edit the challenge or help with challenge formulation free of charge.
2. The challenge is posted on our site.
3. WEBI receives solutions submitted by Solvers.
4. WEBI forwards the submissions to the Innovation Seeker.
5. Innovation Seeker evaluates the submissions.
5. The Winners are Chosen and Rewarded:
- The Innovation Seeker notifies WEBI which (if any) of the solutions is accepted. If none of the submitted solutions are acceptable, then absolutely no fee is due.
- If a solution is accepted and if transfer of IP rights was requested in the challenge description, the solver will need to sign and notarize an Intellectual Property Transfer Agreement and sign, and have his/her employer sign, an Employment Waiver and Release of Assignment form, indicating that they have the right to transfer the ownership of the accepted solution and the related intellectual property.
- Innovation Seeker forwards the award amount and the administrative fee to WEBI.
- WEBI transfers the award amount to the solver within 3 business days of receipt of funds from the Innovation Seeker. The awards are paid usually within three or four months of the submission deadline for Theoretical and for Proof-of-Concept Challenges, respectively.
- All payments are made through PayPal. The Innovation Seeker can choose to pay using a PayPal account or with Visa, MasterCard, American Express or Discover credit card. The award payments to Solvers are made through PayPal money transfer.