Commercial

A competition platform that puts many minds to work solving tough problems.

Leverage competition to help you source the best solutions to your toughest problems.

Multiple Solutions
Own the Solutions
Find New Talent
LEVERAGE THE POWER OF COMPETITION
CREATE CHANGE

Crowdsource

Innovation specific to your needs through Advance Market Commitments

Build

A pipeline of deal-flow with custom programs

Leverage

The right incentives to attract new talent

Don't Get Stuck in the Past

Over the last 10 year the landscape of corporate innovation and R&D has expanded beyond traditional in-house methodologies. The most effective businesses are the ones leveraging innovations from startups and growth stage companies to accelerate their R&D and M&A efforts. With Carrot’s methodologies and platform, we can build your team the innovation engine it needs to thrive.

Get More Out of Your Investment

Open the funnel to new and diverse communities of problem solvers ready to bring new ideas, products, and methodologies to your industry.

Scale What Works

Find solutions that are at the right stages of development to integrate into your business faster.

Scale and Accelerate Growth through Innovation

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Challenges Built for Your Needs

With over 11 years of experience designing incentive based programs, Carrot will build custom designed competitions and crowdsourced procurement platforms built to source new technology specific to your business’ needs.

Build Your Innovation Pipeline

Beyond the winning solution, build your pipeline with a unique community of applicants that will provide investment deal-flow and partnership opportunities for years to come.

Diversify Your Talent Pool

Carrot’s competitions have sourced solutions from over 190 countries of . You can activate this community to acquire new and diverse talent from across the globe.

Why trust Carrot?


$500M

In Asset Allocation

Our clients have relied on us to offer awards from $50 to $100 million - we help you calibrate the right incentives.

10+

Years of Experience

We will guide you through avoiding the common pitfalls of running a successful competition.

100%

Success Rate

In over a decade, we have never failed to meet the objectives of any competition.

170,000

Community of Solvers

We've registered a community of over 170,000 solvers across all of our competitions.

190+

Countries Reached

We have registered individuals from almost every country on the planet over our 10 year history.

Trusted by the World's Leading Sponsors

Johnson & Johnson Logo
National Geographic Logo
MIT Logo
MacArthur Foundation Logo
European Commission Logo
NASA Tournament Lab Logo

We stand behind our clients and their brands, and they remain our strongest endorsements.

Our Guarantee

Carrot is, first and foremost, a service business. We work with you to develop custom programs that are built to source a pipeline of crowdsourced innovation tailored specifically to your needs. From start to finish, we are your guide for launching and managing any innovation challenge. 

By embracing an open, transparent, and fair approach to sourcing solutions, our clients have realized more cost-effective and impactful results. Rather than relying upon a limited set of established providers, we help you tap into a broader pool of talent.

How much will this cost?

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Carrot charges on a fixed-fee basis with multiple tiers of services and with optional packages of features customizable to your needs. We do not charge as a percentage of your award(s) nor do we price our services against the capacity of your budget. We’re happy to provide more details and provide an estimate, simply Schedule an Appointment

When is a competition most effective?

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Any time you need others to compete for your resources or attention, competitions are more efficient and effective than other approaches.

Solving problems requires investment. Once you are ready to find the right team or technology to meet your needs, sourcing those opportunities is always a challenge. By sponsoring a competition, you are merely replacing traditional models, like RFPs or other procurement methods, with a more open, transparent, and fair platform. By expanding the aperture, you will find new and exciting solutions.

Download our free PDF: 5 Unexpected Benefits of Running a Competition

How long does a typical program take to build?

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From the start of any engagement to launch, it takes between 3-5 months to design and develop your competition. During that process, we will recommend specific phases of submission and assessment, to ensure that you are attracting top performers and that their proposals are scored as precisely as possible. Depending upon the number and type of each phase, the actual competition may take between 6-12 months. We will work with you to determine the duration of your program to ensure it meets your needs.

How does this work?

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Every client has a different set of needs. At Carrot we will design your competition, brand it, build it, and run it for you. Our approach ensures that each program is customized for your intended outcome. This means that our clients often meet with us on a weekly or bi-weekly basis during the initial stages of program design, and then on a less regular basis during each active competition phase. We have clients that have dedicated as few as 2-3 staff and others that have empaneled multiple stakeholder parties and key partners. We will work with you to assume as much of the responsibility as you need or want.

Who owns the outcome?

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You own the assets. This is an important aspect of our services. As individuals, organizations, and/or teams register to compete, that data is yours. Similarly, we will work with you to establish ownership of any intellectual property submitted through your competition. Our ambition is to provide you with the concepts and the assessment data, so that you can select the best solution(s) to meet you needs, but we also see value in the full range of proposals. You get to pick the winning solution(s), but you also gain a more complete understanding of the many other technical approaches that may change your perspective or shift your strategic approach to implementation.

I already have a program and need help.

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Over the past two decades, the use of prizes, challenge competitions, and fellowship programs has grown at a pace of ~18% per year. Today, corporations, foundations, and government agencies are replacing RFPs and other forms of procurement with prizes. So, it is not unusual for us to work with clients who have started a program only to find that the structural and operational challenges are too great or that scaling it requires expertise. At Carrot, we help our clients realize the potential that inspired them in the first place. We are your guide to improving any program that invites others to compete for your resources.

Let's Take the Next Step

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Schedule a
Time to Talk

We want to get to know you and the problem that you need to solve.

1
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Get a Free Consultation

A 30 minute consultation will make sure we’re a good fit for each other.

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Start Your
Competition

We'll hit the ground running with a kick-off meeting to define your goals.

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5 Unexpected Benefits of Running a Competition

Here's the simple truth: you have more important things to worry about than becoming a competition expert. Download this free PDF to learn five ways that we can help you save time and money.