Crowdsourcing ideas with 500,000 brains – HunchBuzz, Steve Morey

If good ideas were tangible, they would be worth more than gold. A good idea can get you more gold, whereas gold can only get you items of lesser value. Steve Morey and Steven Graham are in the ideas business.

“HunchBuzz is an idea management platform, used by businesses to capture ideas and feedback about issues that affect their business,” said HunchBuzz co-founder Steve Morey. The issues Steve speaks of can be both internal and external, and are identified by the business.

The concept behind crowdsourcing is not new. In fact it dates back to 1546, when John Heywood coined the epigram “many hands make light work.” Steve’s New Zealand-based idea crowdsourcing platform has access to one of New Zealand’s largest social networks, with over 500,000 members. That’s 1 million hands.

The system is built to be suitable for all ranges of users. The first major customer HunchBuzz acquired was one of New Zealand’s largest government departments. “They are using our software for their internal idea tool. We are also in talks with other government departments and have received a lot of interest from large global organizations.”

HunchBuzz is also effective on a smaller scale. “We can customize our service to local needs.”

Naturally, the idea for an idea-sourcing platform came from ideas. The two Steves decided that there was an opportunity to crowdsource innovation. Using the social network they had already developed with iLuvNZ as a platform, HunchBuzz was built fairly quickly.

“We started off with the idea, workshopped it, and after 8 weeks we had our business plan and product specification. We both went in financially equally, bootstrapping to a degree, but essentially we have come in with a lean approach to development.”

Constructing HunchBuzz took three times longer than expected, but the result is a high quality, world-class service. “Development was meant to take 3 months, but took over 10. We now have a working product we are proud of.”

The actual development of HunchBuzz was contracted out. The Steve team are taking their product to the next level by entering into “some rather compelling partnership agreements.”

If you want to make use of HunchBuzz, it will cost your business anywhere between $0 to $1,160 NZD. “For free, the organization gets a basic version of our platform which does what most SME (small to medium enterprises) and startups need. The full version for enterprise includes full access to our platform, added security, optional customization, ability to host anywhere in the world, single sign on, and up to 5 hours of our time per month.”

Do you think 2013 is a good year to be an entrepreneur in New Zealand?

In New Zealand? No. New Zealand no longer has the support from government or private investors that it did pre 2008.

Tags: , , ,