‘Ideapoke is open innovation platform where small firms can show case their technologies and large corporates can post their R&D requirements. In the back end Ideapoke discovery engine searches for matching technology providers and bring the new technologies to Ideapoke platform. Its online platform deploys proprietary technology using big data analytics and matching algorithms to crowdsource technology partners across the globe and collaborates with the best solution providers; enabling customers solve their R&D and product development challenges.’- Anup Sahoo, Founder, Ideapoke
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| Anup Sahoo, Founder, Ideapoke |
ST: When did you decide to take the path of ‘entrepreneurship’?
Anup
Sahoo: Prior
to founding IDEAPOKE, I was a solution architect with 3M, where I lead and
designed the company’s enterprise collaboration software used by R&D,
marketing and sales teams to interact with the external partners and vendors of
3M worldwide. There I realized that Innovation can come from anywhere and from
any size of company. To realize this I felt the need to conceptualize a
business platform which can facilitate Innovation as a Service. Now the motto
is as it was before, that leveraging open innovation is much more powerful than
using any rigid application. The simplicity of democratizing innovation and
connecting industries with the crème de la crème of technologies within the
same intuitive ecosystem is that breakthrough discoveries and innovation can
come from anywhere.
Sahoo: Prior
to founding IDEAPOKE, I was a solution architect with 3M, where I lead and
designed the company’s enterprise collaboration software used by R&D,
marketing and sales teams to interact with the external partners and vendors of
3M worldwide. There I realized that Innovation can come from anywhere and from
any size of company. To realize this I felt the need to conceptualize a
business platform which can facilitate Innovation as a Service. Now the motto
is as it was before, that leveraging open innovation is much more powerful than
using any rigid application. The simplicity of democratizing innovation and
connecting industries with the crème de la crème of technologies within the
same intuitive ecosystem is that breakthrough discoveries and innovation can
come from anywhere.
ST: Please tell us about your venture.
Anup
Sahoo: Ideapoke
is open innovation platform where small firms can show case their technologies
and large corporates can post their R&D requirements. In the back end
Ideapoke discovery engine searches for matching technology providers and bring
the new technologies to Ideapoke platform. Its online platform deploys
proprietary technology using big data analytics and matching algorithms to
crowdsource technology partners across the globe and collaborates with the best
solution providers; enabling customers solve their R&D and product
development challenges. At its core, IDEAPOKE helps organizations to discover,
connect, and collaborate with partners to solve business problems.
Sahoo: Ideapoke
is open innovation platform where small firms can show case their technologies
and large corporates can post their R&D requirements. In the back end
Ideapoke discovery engine searches for matching technology providers and bring
the new technologies to Ideapoke platform. Its online platform deploys
proprietary technology using big data analytics and matching algorithms to
crowdsource technology partners across the globe and collaborates with the best
solution providers; enabling customers solve their R&D and product
development challenges. At its core, IDEAPOKE helps organizations to discover,
connect, and collaborate with partners to solve business problems.
To look at the bigger picture,
Ideapoke enables larger organizations accelerate R&D of its products by
connecting them to firms which are either already at the end point of the
particular product’s R&D or are well on their way. This crowdsourcing
method of integrating technology solutions is what will drive innovation
towards the future. Circa 2016, Ideapoke lists a database of over2.4 million
technologies, 180,000+ companies across the globe doing niche R&D in
different areas and 2700+ universities
globally and the database continues to double once in every six months. By end
of 2017, Ideapoke aims to provide over a 4 million technology innovation
listings.
Ideapoke enables larger organizations accelerate R&D of its products by
connecting them to firms which are either already at the end point of the
particular product’s R&D or are well on their way. This crowdsourcing
method of integrating technology solutions is what will drive innovation
towards the future. Circa 2016, Ideapoke lists a database of over2.4 million
technologies, 180,000+ companies across the globe doing niche R&D in
different areas and 2700+ universities
globally and the database continues to double once in every six months. By end
of 2017, Ideapoke aims to provide over a 4 million technology innovation
listings.
ST: What opportunities do you see in this sector?
Anup
Sahoo: Opportunity:
Sahoo: Opportunity:
Open Innovation and
crowdsourcing is being well adopted by Indian companies. But still India is far
behind than America and Europe. Almost half the collaborators face problems
like poorly-defined strategies for managing intellectual property (IP) risks as
well as lack of efficiency at resolving IP disputes during the experimentation
and procedural stages of innovation. Big companies are eager to gel with the
startups with bright ideas but they need policy support from the government. On
the other hand, startups and MNCs are on two extreme ends of the spectrum. So, strong
leadership and change management will be required to build trust among
collaborators. Better market early tests need to be done before any
collaboration is approved determining the potential of the idea because all
markets have a choking point, it’s a matter of when.
crowdsourcing is being well adopted by Indian companies. But still India is far
behind than America and Europe. Almost half the collaborators face problems
like poorly-defined strategies for managing intellectual property (IP) risks as
well as lack of efficiency at resolving IP disputes during the experimentation
and procedural stages of innovation. Big companies are eager to gel with the
startups with bright ideas but they need policy support from the government. On
the other hand, startups and MNCs are on two extreme ends of the spectrum. So, strong
leadership and change management will be required to build trust among
collaborators. Better market early tests need to be done before any
collaboration is approved determining the potential of the idea because all
markets have a choking point, it’s a matter of when.
That being said, India is
slowly being recognized in the world for a shared passion for innovation and
entrepreneurship. Indian and American entrepreneurs have become part of a
shared culture that reveres innovation- a statement supported by Charles H Rivkin
(Assistant Secretary of State for Economic and Business Affairs) on his remarks
to Center for Strategic and International Studies (CSIS), a top American
think-tank.
slowly being recognized in the world for a shared passion for innovation and
entrepreneurship. Indian and American entrepreneurs have become part of a
shared culture that reveres innovation- a statement supported by Charles H Rivkin
(Assistant Secretary of State for Economic and Business Affairs) on his remarks
to Center for Strategic and International Studies (CSIS), a top American
think-tank.
Our vision is to
democratize innovation and create a business platform that facilitates
innovation with utmost rigor and fervour that is unmatched in the world.
democratize innovation and create a business platform that facilitates
innovation with utmost rigor and fervour that is unmatched in the world.
ST: Did you face any challenge in your entrepreneurship journey?
Anup
Sahoo: Staying
focused was the most challenging part. I had left my high paying job at a
reputed company like 3M to work on the algorithm for Ideapoke for a year! The
mental stress alone of the time period is overwhelming and demoralising. But
the key was to focus on what the product could and would be one day and
breaking a sweat now will only serve is for better in the future. Ideapoke was
to be the gateway for us to connect enterprises who were willing to innovate,
think ahead of time and most importantly have a vision. Which is why we were motivated to succeed no
matter what.
Sahoo: Staying
focused was the most challenging part. I had left my high paying job at a
reputed company like 3M to work on the algorithm for Ideapoke for a year! The
mental stress alone of the time period is overwhelming and demoralising. But
the key was to focus on what the product could and would be one day and
breaking a sweat now will only serve is for better in the future. Ideapoke was
to be the gateway for us to connect enterprises who were willing to innovate,
think ahead of time and most importantly have a vision. Which is why we were motivated to succeed no
matter what.
On daily basis we face
various type of challenges starting from recruitment to growth. We have very
low attrition ratio because of high growth. While selecting candidates we
carefully choose applicants who exhibit passion for doing things differently
and thinking out of the box. We clearly lay out the growth curve for them if
they meet their deadlines on time and with efficiency. Transparency in work
culture has been our strength which we intend to carry on for productive
workforce.
various type of challenges starting from recruitment to growth. We have very
low attrition ratio because of high growth. While selecting candidates we
carefully choose applicants who exhibit passion for doing things differently
and thinking out of the box. We clearly lay out the growth curve for them if
they meet their deadlines on time and with efficiency. Transparency in work
culture has been our strength which we intend to carry on for productive
workforce.
ST: What are your plans for next 2 years?
Anup
Sahoo: We
will develop new software solutions to facilitate Innovation as a Service. Also,
Ideapoke will be enabling more sophisticated algorithms for technology matching
and Artificial Intelligence to increase its technology database.
Sahoo: We
will develop new software solutions to facilitate Innovation as a Service. Also,
Ideapoke will be enabling more sophisticated algorithms for technology matching
and Artificial Intelligence to increase its technology database.
ST: How do you motivate yourself?
Anup
Sahoo: We
do always get motivated by customer success.
Sahoo: We
do always get motivated by customer success.
Personally, my life’s
greatest mantra is to make something new which served the people. It’s easy to
lose your ethics to earn money or sit in a comfortable position in a cushy
company and get things done for the company. But it should all be to serve a
purpose which is to make the world a better place. Which is why when we felt
the need to bring India to the forefront of technology solutions (because let’s
be honest, there are so many talented individuals in the country who can
provide with disruptive and revolutionary technologies, but don’t get proper
exposure). I am by nature, impatient and to many others, abrasive, yet my aim
has always been to support ideas that enables the world with a better life.
greatest mantra is to make something new which served the people. It’s easy to
lose your ethics to earn money or sit in a comfortable position in a cushy
company and get things done for the company. But it should all be to serve a
purpose which is to make the world a better place. Which is why when we felt
the need to bring India to the forefront of technology solutions (because let’s
be honest, there are so many talented individuals in the country who can
provide with disruptive and revolutionary technologies, but don’t get proper
exposure). I am by nature, impatient and to many others, abrasive, yet my aim
has always been to support ideas that enables the world with a better life.
Interviewed by Startup Terminal Bureau
