Open innovation challenges where hard tech entrepreneurs
jumpstart their ventures. refine their solution. protect their IP. find their customers.
Jumpstart Your Venture
Successful entrepreneurs have creative ideas and valuable technologies, but struggle to build early commercial traction
ProblemSpace is an open innovation platform where entrepreneurs can learn the challenges faced by potential customers and secure commercial commitments
Find Your First Customer
Sto Corporation, a building technology and building materials leader, sought next-generation solutions to gnarly problems that current state-of-the-art technologies could not address. Sto launched four open innovation challenges for new 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.”
Corporate defines the problem and metrics for success
Ventures submit proposals to ProblemSpace in confidence
ProblemSpace selects candidates to interview (NDA optional)
ProblemSpace evaluates proposals and makes recommendations to corporate sponsor
Corporate selection committee evaluates finalists (under NDA) and selects winner(s)
Contingent purchase order –
which can be used for funding
in the venture
Fellowship to pursue
an early-stage concept