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With Netflix Inc. paying out a $1 million prize on Monday to a team of outside researchers that improved its movie recommendation algorithm, two venture-backed start-ups are overjoyed that the “open innovation” model is spreading.

Open innovation “like any big change in business takes time to promulgate,” said David Ritter, the chief technology officer of InnoCentive Inc. “The Netflix prize is a bit of a turning point.”

WSJ: Netflix Prize A “Turning Point” For Open Innovation