We're proud today to release a new report as part of our “Case Studies” from the spring gathering, Promoting Innovation: Prizes, Challenges and Open Grantmaking, a daylong strategy session we co-hosted along with the White House Office of Science and Technology Policy and the Domestic Policy Council. This event brought together over 200 individuals representing more than 35 government agencies and 35 private sector and nonprofit organizations to discuss lessons and strategies from experiments in prizes, challenges and open grantmaking.
The Promoting Innovation report is meant for anyone who may have missed the conference, or wants to share some of the chief learnings with colleagues who weren't able to attend.
Prizes and challenges can drive dramatic and transformative innovation. While prizes and challenges are not new – they date back to at least the 1700’s – the evolution of social media and Web 2.0 technologies has certainly positioned this space for growth. Private and philanthropic organizations have been experimenting with new ways of using them and many of their lessons are transferrable to government agencies. One study identified more than 60 new prizes, of more than $100,000 each, having debuted since 2000.
As discussed during the Promoting Innovation session, prizes and challenges can generate transformative innovation by engaging the best minds. As a result, there are numerous benefits, including:
- The ability to establish an important goal without having to choose the approach or the team that is most likely to succeed
- Enables sponsors to pay only for results
- Highlights excellence in a particular domain of human endeavor to motivate, inspire and guide others
- Increases the number and diversity of individuals, organizations and teams that are addressing a particular problem or challenge of national or international significance
- Improves the skills of the participants in the competition
- Stimulates private sector investment that is many times greater than the cash value of the prize
- Attracts more interest and attention to a defined program, activity or issue of concern
- Captures the public imagination and changes the public's perception of what is possible
However, as we’ve found from our own experience and from working with others developing these types of programs, good prize design can be hard work. Agencies should take into consideration the following advice from the summit participants.
Dos and Don'ts for Creating Prize and Challenge Programs
The report shares some key dos and don’ts that panelists and speakers raised:
- The problem to be solved must be clear and well defined, with clear, measurable, and objective rules.
- Agencies must make sure authority and budgets are in place.
- Challenges should be open and transparent. Do not underestimate the effort it will take to remain fair.
- Prizes don't have to be money. A nonmonetary prize that creates recognition can stimulate innovation.
- Use the public for the right purpose.
The Promoting Innovation report, which was prepared by Brad Rourke of the Mannakee Circle Group, is available here. In addition, the full agenda, speaker biographies , and interviews with many of the key presenters on CaseSoup are available on our Citizen-Centered Solutions page.
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