Open innovation challenges where hard tech entrepreneurs

jumpstart their ventures. refine their solution. protect their IP. find their customers.

built by
sponsored by

Jumpstart Your Venture

Successful entrepreneurs have creative ideas and valuable technology, but may not yet have built commercial traction

Entrepreneurs

ProblemSpace is a an open innovation platform where entrepreneurs can learn the challenges of potential customers and secure their first commercial commitments

Problem Space

Legacy-sector companies have moonshot ideas and intractable problems, but have trouble working with startups

Legacy-sector Companies

Find Your First Customer

Sto Corporation , a building technology and building materials leader sought solutions to gnarly problems that the current state-of-the-art technologies could not address. Sto launched four open innovation challenges for building materials through Problem Space.

Frank Yang, serial entrepreneur, winner:

“ProblemSpace helped us prove the viability of our model through a relationship with a respected corporate in Sto.

By winning the Open Innovation Challenge, we have not only accelerated production and distribution, but also have meaningfully advanced conversations with major investors.”

ProblemSpace Process

Corporate defines the problem and metrics for success

Ventures submit proposals to ProblemSpace in confidence

ProblemSpace selects candidates to interview (under NDA)

ProblemSpace evaluates proposals and makes recommendation to corporate sponsor

Corporate selection committee evaluates finalists (under NDA) and selects winner

Prizes Include

Contingent purchase order –
which can be used for funding

Corporate investment
in the venture

Fellowship to pursue
an earlier-stage concept