My good friends and partners at Spencer Trask have just announced an exciting project with IBM and ITS America. It's a global innovation challenge, focused on solving traffic congestion. Here's an excerpt from the press release:
The ITS Congestion Challenge is the first global competition to identify the best ideas to reduce congestion and mitigate its impact on the economy and environment. The competition is open to entrepreneurs, commuters, transportation experts, researchers in all fields, universities, and citizens around the world.
All ideas will be reviewed, discussed and rated by an open global community. The best ideas to solve the problem of traffic congestion will be selected and the winner will be announced during the 16th World Congress on Intelligent Transportation Systems in Stockholm, Sweden, September 21 - 25, 2009. The winner will receive a cash investment of $50,000 USD in addition to development and implementation support so that the winning idea becomes a real-world solution.
Exciting application of open innovation toward making a real difference in the world. Check it out at: