Tim Elfelt's Contact Details

Tim Elfelt's Company Details

Ideawake

Milwaukee, WI, US • 20 - 49 Employees
SaaS

Ideawake is an innovation management platform that captures and organizes the collective intelligence of employees and customers. Users are given the chance to collaborate on challenges and questions inside the organization, and throw their support behind the ideas they see as the most profitable or attractive based on their knowledge and experience.By expanding the scope of those involved in the decision-making process, Ideawake allows management to obtain new insights into the issues they're facing based on feedback from the people affected directly. Those insights lead them to launch new initiatives to boost operational efficiency and improve employee morale, all while helping them to build a system for continuous improvement inside the company.Ideawake consists of two modules. The first is a virtual brainstorming room where individuals can post their ideas in an open-ended format on topics set by management. Some examples include ideas for new products, product-line extensions, and improving employee productivity. This ideation module is meant to capture the raw creativity of participants.The second module is a prediction market, which aggregates participant opinions about a specific event in the future to predict which outcome has the highest probability of occurring. Applications include forecasting sales, competitive analysis, and monitoring project deadlines. To incentivize participation, our platform uses a gamification system that gives users points for participation, which can be used to track performance. At the end of each quarter, management can offer prizes of their choosing to the top performing participants.