L’Oréal Brandstorm 2021

What is Agorize?

Agorize is the most comprehensive innovation management platform, supported by a team of experts and community of innovators. For over a decade, we’ve been providing technology powered by a community of 5 million innovators to foster change and accelerate innovation. Our clients and partners worldwide crowdsource, evaluate and develop solutions from startups, employees, developers and students using Agorize. We’ve helped over 300 global enterprise companies in Europe, North America, and Asia Pacific, including Enterprise Singapore, Huawei, Microsoft, LVMH, PepsiCo, Bayer, Schneider Electric, Hitachi, L’Oréal and many more by running their innovation programs.

What is an innovation challenge?

An innovation challenge, or innovation competition, is a competition organized by a company to bring forward innovative solutions. The organizer defines clear objectives and problem statements, after which innovators are invited to submit their ideas and solutions. Proposals can come from startups, employees, students or other talent that is relevant to the topic at hand. Through a process of crowdsourcing and assessing ideas, mentoring participants and developing solutions, the organization will identify the winning proposals that will be implemented. More than 300 enterprise companies have organized innovation challenges with Agorize. Their results speak for themselves. They’ve managed to:

• Reduce go-to-market time with internal teams
• Fast-track the development of niche solutions with the products and services of startups
• Create long-term strategic partnerships
  Brainstorm future-proof ideas with students from top universities.

Overall, it accelerated their own transformation and made themselves more future-proof.

More resources

Article: Five Innovative Recruitment Initiatives
Whitepaper: The significance of employer branding
Article: Talent Management: how to scout, engage and retain talent?