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Hack-a-thon, idea contest, innovation lab - there are so many forms of open innovation nowadays, but there are also many times when open innovation fails to solve problems or attract participation. Here are 10 things NOT to do if you want your open innovation challenge to succeed.

There is much talk these days about crowdsourcing and how companies can tap into the power and diversity of the crowd. I will share my views and perspectives on some good examples as well as bad ones in a series of blog posts.

The potential that open innovation yields for banks has been captured in a new study released by GFT, a leading international IT solutions providers to the financial sector.

Healthcare has taken to open innovation perhaps more than any other industry, with a host of sites and projects emerging to bring the crowd into the medical process. For instance, a site called CrowdMed are aiming to crowdsource medical diagnosis.

Open innovation as defined by Professor Chesbrough in his 2003 book encompasses a variety of innovation processes, inclusive of and not mutually exclusive with crowdsourcing and lead user innovation. Open innovation is a general way of describing the flow of ideas across organizational boundaries, both in to and out from. In fact, Professor Chesbrough talks and writes extensively about both outside-in and inside-out open innovation. (The Netflix spin out of Roku is one example of inside-out open innovation.)