This year participants of the Innovation Rodeo have the opportunity to form teams of four and win cash Tuesday to Thursday by coming up with the best solution – as selected by the provider of the Innovation Challenge – for solving a specific problem.
Innovation Challenges occur between 1:30 and 3:30 on Tuesday to Thursday of the Innovation Rodeo.
This year’s Innovation Challenges are:
- Tuesday: To be announced
- Wednesday: To be announced
- Thursday: To be announced
The Innovation Challenges are a hybrid of design thinking and a business case and are documented in a one-page template (11 inches X 17 inches) provided at the beginning of the each day’s Innovation Challenge.
The steps of the challenge are:
- Listen to the challenge provided
- Identify potential causes of the challenge
- Select the root cause of the challenge (aka lynchpin)
- Come up with potential solutions to the root cause
- Select ranking criteria to rank your potential solutions
- Pick your best solution by force ranking each solution based on the ranking criteria you selected
- Suggest the first three implementation steps
- Identify the resources needed to execute your implementation steps
- Identify three key risks and develop a short risk mitigation strategy for each of them
The winners are announced on the final day of the Innovation Rodeo.
The Innovation Challenge template and forced ranking worksheet are available via the resources section of this website.