Jade Magnet: Creating a Crowdsourcing Enterprise
(11 pages of text)
Jade Magnet was India’s largest creative crowdsourcing platform. It had grown from an entrepreneurship project idea of two MBA students to one that had completed more than 700 projects for 200 brands through 3,000 providers that offered a range of creative services. As 2011 was coming to a close, the founders were preparing for a meeting with their mentor and angel investor to discuss a number of issues including whether to grow the business by expanding domestically in India and/or expanding internationally into the Middle East. A decision to enter the Middle East would raise further questions concerning market knowledge, competitors, external funding sources, joint ventures and branding.
- To enable students to appreciate the entrepreneurship process, business model formulation and innovation.
- To emphasize the importance of mentoring and support networks.
- To introduce the concept of crowdsourcing and illustrate the example of co-creation.
- To identify opportunities, weigh them and determine the strategic priorities.
- To enable students to identify problems and evaluate alternative solutions.
Information, Media & Telecommunications
India, Small, 2011
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