HeroX provides an open innovation platform that connects businesses, organizations, and associations with a global network of problem solvers to develop ideas, products, designs, proofs of concept, or prototypes.
Funding
Funding not disclosed
Founders
Product
Problem
Organizations often face slow, costly, and limited internal innovation processes, making it difficult to generate diverse ideas, prototypes, or solutions for complex challenges.
Solution
HeroX operates a web‑based crowdsourcing platform that lets sponsors define a challenge, set success criteria, and offer a prize to a global community of innovators. Sponsors can configure IP ownership, timelines, and budgets, then broadcast the challenge to over one million solvers in more than 190 countries. The platform manages submissions, communication, and judging, allowing sponsors to evaluate ideas, designs, proofs of concept, or prototypes and award prizes only when a solution meets the defined criteria. This model delivers faster results, predictable costs, and access to expertise that would be unavailable within a single organization.
Target Audience
Primary customers are corporations, government agencies, research institutions, and non‑profits that need to solve product, process, or societal challenges and are seeking rapid, cost‑effective access to external expertise.
Features
- Online challenge creation with customizable goals, prize structures, timelines, and IP agreements
- Global talent pool of 1 M+ innovators spanning 190+ countries, covering engineering, data science, design, healthcare, and more
- Built‑in promotion and community‑building tools to attract participants and build lasting innovation networks
- Integrated submission management, real‑time progress tracking, and collaborative communication tools
- Flexible judging options including expert panels, community voting, or hybrid evaluation
- Pay‑for‑success pricing: sponsors pay only for winning solutions, with an 18% success‑based fee on prize amounts
- Optional subscription plans for unlimited challenges, white‑labeling, priority support, and custom integrations