Spigit launched into beta in mid-July to offer up a startup simulation game to help entrepreneurs showcase new ideas and innovations and in the process connect with a network of professionals. Spigit seems to have blended a multiply player online simulation game with a social network while aimed at creating a new company. Spigit can act as a testing ground for new ideas by helping to predict if they will succeed or fail with less invested.
Spigit is said to have developed a technology that measures and quantifies interactions on group platforms to extract wisdom from crowds. The spigit simulation game which is made up of three phases (incubation, innovation and emergence) narrows the field of ideas and winners are added to a virtual stock market and traded like real companies. By creating a reputation profile for every user, the spigit community is able to create an environment filled with metrics to help find good ideas and good users. Spigit already has 30+ startups leveraging the consumer facing platform and plans to offer an enterprise edition for companies looking to uncover employees with good ideas.