Wazoku

About Wazoku

Wazoku, established in 2011, offers a comprehensive enterprise solution for idea management and open innovation. The company was founded by Simon Hill, who serves as the CEO. Hill's background includes experience in multilingual social networking and enterprise collaboration software, which directly informed Wazoku's creation to help large organizations tap into their collective intelligence. The firm operates on a B2B SaaS model, generating revenue through subscriptions to its modular platform tailored for large enterprises, public sector bodies, and non-profits. Its client roster includes prominent names like NASA, HSBC, and AstraZeneca, indicating a strong foothold in various high-stakes industries.

The core of Wazoku's offering is its software platform, which facilitates what it terms "Challenge Driven Innovation®". This methodology and accompanying software tools enable organizations to manage innovation initiatives from ideation to impact. The platform supports various innovation models, including internal crowdsourcing from employees (inside-in), collaborating with external partners (inside-out), and sourcing solutions from a global crowd (outside-in). A key asset is the Wazoku Crowd, a vast community of millions of 'Solvers'—experts, students, and professionals from around the globe who compete to solve specific challenges posted by client organizations. This crowd-powered approach provides clients with a diverse pool of talent and perspectives to tackle complex problems. The platform is designed for enterprise-grade security and integrates with other corporate technology systems.

Significant milestones in the company's history include several strategic acquisitions that have expanded its capabilities and market reach. In 2020, Wazoku acquired the US-based open innovation platform InnoCentive, which significantly grew its global network of problem solvers and solidified its presence in North America. This was followed by the acquisition of the UK-based collective intelligence platform, Mindpool, in 2022. In 2023, Wazoku further expanded its portfolio by acquiring PosterLab, a prominent academic innovation platform, extending its reach into the university and research sectors. These acquisitions underscore a clear strategy of consolidating the innovation management market and building a comprehensive, multi-faceted solution.