The astounding pace of innovation propelled by collaboration, competition, and incentives inspires us every day at Spencer Trask.
In this industry, incentives that motivate an entrepreneur, engineer, scientist or investor are often monetary. But time and again we see the best in human potential brought forth by a desire to break new ground, do what has never been done before, and blaze a new trail to make the world a better place. (more…)

This morning’s NPR Marketplace Morning Report featured Edison Nation, a site for inventors and retailers, powered by open innovation. Edison Nation has a few things in common with VenCorps, our community of startup entrepreneurs, experts and investors.

Edison Nation comes from the creators of Everyday Edisons, the invention television series that airs on PBS stations nationwide. The site was developed to collect pitches from inventors. However, companies took notice. Now major retailers such as Home Depot, Bed Bath & Beyond, and PetSmart use the site to find “the next big thing.” This is similar to VenCorps’ partnerships with corporate sponsors.

Retailers and manufacturers use Edison Nation to sponsor “Idea hunts.” Inventors pitches ideas through the site. Winning inventors split royalties with Edison Nation 50/50. (more…)