This an interesting way to move forward specially in current market full of competition. This might help Cisco to get a headstart into near future techonolgy,concept etc. Cisco's Telepresence is one of the outcome of this effort. Companies do have such portals which are used internally to the company but issue is that we can only submit the ideas related to the stuff the company works for. e.g If I am working in telecomunication company I cannot submit the idea on to how to improve the efficiency of a four-stroke engine since that would not be relevant to the companies road map. Cisco's i-prize gives that platform to register your idea and if they feel that it is persuable then (and provided that your ideas is voted the best) you have a bright future.
Following is some details on how to participate at Cisco's I-prize.
Register on the Cisco I-Prize Website. Post your idea and comment on other ideas posted by fellow entrepreneurs. Use the Human Network to refine your concept and form an idea team of all-stars that can take your idea to the next level.
Cisco will select up to 100 semifinalist teams that will work with Cisco experts using state-of-the-art collaboration tools to build a business plan and presentation. Next, up to 10 finalist teams will present to a judging panel for the ultimate prize: the opportunity to start a new business unit with access to the resources that Cisco has to offer.
Its definitely not easy task but if you genuinely think that you have the idea which could save the world or avoid next world war I-Prize might just be the place to start at.
Information Sources:
http://www.businessweek.com/technology/content/may2008/tc20080529_968185.htm
http://blogs.cisco.com/innovation/comments/businessweek_magazine_on_the_cisco_i_prize/
