One organization that embodies innovation and open thinking as a private organization is a company called Innocentive. So far, I am very impressed with their goals and purpose as a company and the business model they are employing. The following is from their website “about us” page:

Founded in 2001, InnoCentive built the first global web community for open innovation, enabling scientists, engineers, professionals and entrepreneurs to collaborate to deliver breakthrough solutions for innovative R&D-driven organizations. InnoCentive Seekers, who collectively spend billions of dollars on R&D, submit Challenges to the InnoCentive Marketplace where more than 200,000 engineers, scientists, inventors, business people, and research organizations in more than 200 countries are invited to solve them. Solvers who deliver the most innovative solutions receive financial awards ranging up to US$1,000,000. InnoCentive’s Seekers include commercial, government and non-profit organizations such as Procter & Gamble, Avery Dennison, Pendulum, SAP, Eli Lilly and Company, Janssen, Solvay, GlobalGiving and The Rockefeller Foundation.

The concept is based on a community that harbors the connection of “Seekers” and “Solvers” or crowd-sourcing.  The organizations that participate as seekers are essentially inviting outside participation into the R&D process which exponentially expands the reach and capability of their R&D efforts by engaging minds from around the world and rewarding them accordingly.  This is a cooperative effort to solve the worlds problems, find solutions to needs, and develop improvements to civilization and society.  All as a for-profit, free enterprise! The profit motive and market forces will guide the organization to create many of the most important and practical innovations and I look forward to following and participating.  Check them out here!