InnoCentive announced InnoCentive for Startups, an open innovation solution for early-stage companies. The program is designed for private companies with annual revenues below $50M, and their backers — VCs, angels, and investment firms. Through InnoCentive for Startups, early-stage companies can post challenges to the Open Innovation Marketplace at a “special price.”

It’ll be interesting to see how quickly the startup community jumps on InnoCentive’s new program. The effectiveness of its Open Innovation Marketplace has already been proven with over 150 organizations, including big multinationals such as Procter & Gamble, SAP, Dow Chemicals, and Rockefeller Foundation. Startup teams can now leverage the same resources to identify market opportunities, solve complex business and technical problems, and access partners and talent. Also, if large organizations trust InnoCentive to manage the sensitive IP transfer between “Seekers” and “Solvers,” startups should be comfortable enough to test the water.

In addition to entrepreneurs, InnoCentive for Startups should appeal to early-stage investors. Packages of Challenges and ONRAMP training for their portfolios will be available, giving backers a low-cost way to leverage open innovation and de-risk their investments.

The roll-out of InnoCentive for Startups will be led by InnoCentive board members Amiel Kornel and Stephen McGrath, who have extensive experience working with startups and investors at Spencer Trask.

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