The Bag of Stars: High-Speed Idea Filtering for Open Innovation

October 12, 2013 Leave a comment

The Bag of Stars: High-Speed Idea Filtering for Open Innovation

Ana Cristina Bicharra Garcia Universidade Federal Fluminense; Massachusetts Institute of Technology (MIT) – Sloan School of Management

Mark Klein Massachusetts Institute of Technology (MIT) – Sloan School of Management

September 26, 2013
MIT Sloan Research Paper No. 5031-13

Abstract: 
Open innovation platforms (web sites where crowds post ideas in a shared space) enable us to elicit huge volumes of potentially valuable solutions for problems we care about, but identifying the best ideas in these collections can be prohibitively time-consuming and expensive. This paper presents an approach, called the “bag of stars”, which enables crowd to filter ideas with (our experiments show) accuracy comparable to standard (Lichert scale) rating approaches, but in only a fraction of the time.

Filed under Research

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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