Spigit Launches New Version Of Idea Generation Innovation Software

Social productivity startup Spigit, has launched a new version of its idea generation software, InnovationSpigit 2.0, which tries to use social networking to promote innovation with the enterprise space. The software helps businesses and teams contribute ideas, offer feedback and evaluate concepts to streamline idea generation and promote innovation.

InnovationSpigit 2.0 uses game-theory reputation and ranking, currency and asset management, trading markets and incentive and rewards platforms to encourage participation among employees. For executives, InnovationSpigit uses algorithms to separate raw data from employees into productive ideas. The software features idea category sorting and discussion forums. Spigit also extracts good ideas from the bad ones, identifying ideas that are relevant to the business and then rewards the employees who contribute the best ideas with a rewards system.

Spigit has had some big-name clients sign on for its software, including IBM, Sun Microsystems, Intel, WebEx, Walmart, Sam’s Club, and Southwest Airlines. But while Spigit’s software may be useful and innovative, it isn’t cheap. An annual subscription could run as high as $200,000 for a larger business. Smaller businesses can get the software for close to $25,000 per year.

Jive, another startup who offers social networking software for businesses, is doing similar things but Jive’s software seems to be more horizontal, and focuses on incorporating social business software into multiple parts of the business platform. InnovationSpigit only launched a year ago, so bringing on clients like Southwest Airlines and Walmart is a testament to the product’s utility in promoting innovation within a enterprise.