J&J's QuickFire Challenges: Crowdsourcing Innovation

By Camille Mojica Rey, Contributing Writer
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In the summer of 2014, Johnson & Johnson Innovation launched its first QuickFire Challenge and set in motion one of the industry’s largest crowdsourcing efforts to catalyze industry-changing ideas. Since then, nearly 2,000 applicants from 50 countries have competed for mentorship opportunities, residence at one of 10 JLABS locations around the world, and some have received cash grants of up to $500,000. Johnson & Johnson and the 50 winners to date have already reaped rewards that reach beyond the actual contest. Life Science Leader checked with both J&J and four QuickFire Challenge winners to find out how J&J is benefiting from launching these challenges, as well as see what winning has meant to these fledgling companies.