The ability to sustain an open innovation process is an important challenge in today’s demanding medical and pharmaceutical spheres. High end innovations can also be looked upon as a procedure of coming up with something new or discovering a smart way to improve what already is present. The medical and pharmaceutical industry has been new to idea management and open innovation procedures. Couple of years ago, medical brands used to seek successful case studies of other brands such as aviation and engineering for setting up their own innovation tactics to get an edge over other market players.
Today, prominent medical and healthcare brands have been delving in idea management tactics to come up with innovative solutions and cater to the public health in an improved manner. RNA(Ribonucleic Acid) is,considered to be an important building block and an essential regulator of cell functions. Irrespective of the latest scientific developments, still large amount of facts needs to be discovered by the scientists. Therefore, experienced biologists of Stanford university and Carnegie Mellon University had resorted to crowdsourcing methods to discover other known facts about RNA. They came up with an online video game that is named” EteRNA” that motivates users to share new innovative ways for folding the RNA molecules. There were many participants taking part in this online video game with their inputs regarding resolving chronic diseases ,comprising HIV and other genetic ailments.
The main goal of every pharmaceutical brand is not only to treat patient of their ailments, but also to encourage them to adapt to healthy lifestyle so as to prevent them from chances of any disease. With the new age average individual being erudite and intelligent, medical and pharmaceutical brands are required to be certain of the communication process they are trying to implement. Crowdsourcing software and open innovation practices promotes a better knowledge sharing, which medical brands can use as their operational strategy.
Diabetes too is an epidemic has been on the rise in the past few years. In the US, more than 1 in every 4 Americans is having this ailment. Global pharmaceutical brand Sanofi Aventis ,acknowledges that with new degree of advances today ,there is chance to treat this ailment in a better way . In 2011 ,this enterprise announced an open innovation competition and named it “The 2011 Data Design Diabetes Innovation Challenge” to fight diabetes ,having prize money of $200,000.There were several ideas that came from people round the globe and presented the company with meaningful ways to manage and heal this ailment.
Therefore the main objective of Open Innovation is to encourage people and brands to share their thoughts at large, so that a certain concern or issue can be dealt in a broad manner thereby arriving at positive outcomes.