Up to five winning projects will split $10 million in funding, although apparently it’s possible that there’ll be only one winning project if that’s the only good idea. Google employees and an advisory board of judges will select the top 100 projects and winners, respectively. This type of project isn’t a new concept at all. Actually, another “idea submission” project is in process right now.
American Express continued it’s Members Project for a second year. The premise of the Members Project is that card members can submit their ideas for projects that will create a positive change in the world. Other card members vote, and the winning projects, as determined by a panel of judges, split $2.5 million.
- They’re a great way for Google and American Express to get fresh new ideas from the general public.
- For everyone else, skimming through the submitted projects gives you a sense of the popular causes, concerns, and needs of your consumers. Obviously, these could serve as inputs when developing new products and services to address those needs.
- At a brand activation level, it can help you identify relevant non-profit organizations to align your brand or company with as part of a cause marketing or co-branding initiative.
- Reviewing the projects can spark ideas for new business opportunities. The needs have already been articulated, with votes validating its relevance to consumers, but what’s lacking is the funding to move the project forward. If your company has the means to execute immediately, you choose to launch a similar initiative.