In the latest example of companies recognizing the benefits of crowdsourcing, software maker Intel has issued an open call for budding entrepreneurs who have ideas that can help the company develop new products or make improvements to their existing line of financial management tools.

Through a new site called Intuit Collaboratory, the company will post specific challenges for entrepreneurs to tackle, offering cash prizes and the opportunity for a more formal partnership to the most successful ideas.

As the company VP of Open Innovation said in a press release, “The talent at Intuit is impressive, but we know that we don’t have all the answers…Fresh ideas from the outside are a key element to our innovation program.”

Photo by Intuit.