Award Categories

Co-Creation

Will be awarded to a company that has launched a product, service, or operational efficiency that was “co-created” or developed with one or more strategic partners.

Open Innovation

Will be awarded to a company that has launched a product, service, or operational efficiency that was developed through an Open Innovation program with a large group of external stakeholders.

Internal Crowdsourcing

Will be awarded to a company that has launched a product, service, or operational efficiency that was developed by internal crowdsourcing of employee ideas.

Innovation Lab

Will be awarded to a company that has launched a product, service, or operational efficiency that was created in an innovation lab, or a centralized innovation program or “skunkworks.”

Work with a Startup

Will be awarded to a company that has launched a product, service, or operational efficiency that was developed through a pilot or other relationship with a startup, either through an incubator, accelerator, or other startup-engagement program.

Ecosystem Development

Will be awarded to a company that can demonstrate their impact on a regional ecosystem through programs with municipalities, universities, venture capitalists, entrepreneurs, nonprofits, and/or other organizations or institutions.

Culture and Employee Engagement

Will be awarded to a company that has demonstrated a significant and material impact on internal culture and engagement.

Other

Will be awarded to a company that can demonstrate the impact of their innovation program on other aspects of the business, including recruiting, brand, or other strategic objectives.

Award Categories & Descriptions

Best Outcome: Co-Creation

Description:
Will be awarded to a company that has launched a product, service, or operational efficiency that was “co-created” or developed with one or more strategic partners. [Please note that is different than “Open Innovation,” which typically involves a published challenge or a “call to action” to a large group of external stakeholders; please see our separate Open Innovation entry form].

Groceries by MastercardExamples:
An example of a Co-Creation initiative would be MasterCard Lab’s work with Samsung and FreshDirect to co-develop “Groceries by MasterCard,” which integrates shopping options directly into Samsung’s Family Hub refrigerator (at right). The innovation preempted a move by Amazon to integrate its “Dash” buttons into home appliances, and was first-to-market in the new frontier of smart connected home appliances.

Submission Tip:
When describing the Co-Creation initiative that you are nominating, please provide details on the outcome. Why and how was it successful? The more detail you can provide — including growth or revenue metrics — the better. Remember, this is about “outcomes.” So what was the result of your Co-Creation initiative?

Timelines and Deadlines

  • July 31: Deadline for all submissions
  • Sept. 1: Finalists announced
  • October: Winners announced at Impact 2018

Eligibility Criteria

Entries are valid for work undertaken between January 1, 2015 and July 31, 2018. Because many innovation projects take several years to create meaningful impact, we’ve allowed for an extended eligibility period to capture initiatives for which you may have measurable impact data or metrics. Entries will be accepted from companies that have more than 1,000 employees AND generate at least $100 million in annual revenue. Companies from all industries and locations are encouraged to apply.

FAQ

Innovation Leader, a community of innovation executives at large companies, created the Impact Awards to honor companies that have achieved extraordinary outcomes related to their R&D, HR, new product development, and other innovation-related initiatives.

Entry Form