Read without ads and support Scribd by becoming a Scribd Premium Reader.
See Premium Plans
 
1 / Challenge Prizes landsCaPe review
 
Challenge PrizeslandsCaPe review
 
2 / Challenge Prizes landsCaPe review
what is aChallenge Prize?
Q:
What do the ollowing have in common:margarine, precision clocks, commercialspaceight and plastics?
a:
They were all developed with the help ochallenge prizes.
Challenge prizes, also called ‘inducement’ prizes, oer a reward towhoever can frst, or most eectively, meet a defned challenge. Theyact as an incentive or meeting a specifc challenge, rather than an awardor past achievements (prizes that do this are reerred to as ’recognition’prizes). Famous examples o challenge prizes include the Ansari X-Prizeor manned private spaceight, the 18
th
century Longitude Prize to helpBritish navigators, or the 20
th
century Schneider Trophy or aviation,which inspired the Spitfre.
Prize money
(Adjusted to 2012 value)£0 to £99,999£100,000 to £999,999£1 million to £9,999,999£10 million+
1567
Spanish Longitude Prize
1714
British Longitude Prize
1734-1761
Premium or anInvention to stop theprogress o fres
 
3 / Challenge Prizes landsCaPe review
Past experience and extensive research shows that challenge prizes can:
•
Attract new innovators to meet a challenge and harness reshthinking.
 
•
Focus attention and eort on challenges that have been neglected,or that have proved difcult to solve through mainstream researcheorts.
 
•
Capture public imagination and generate widespread interest in anew feld o endeavour.
 
•
Foster innovation in a wide range o dierent sectors. Prizes haveocused on traditional technological challenges like spaceight,multiaceted issues like global security, and social issues such ascommunity energy use.
 
•
Encourage dramatic advances by setting ambitious goals.
 
•
Generate commercial activity.
 
•
Limit fnancial risk by awarding a prize only when the challenge issuccessully met.Challenge prizes can be particularly eective when a goal can be defnedin concrete terms, and the means or achieving that goal are unknown ortoo speculative or a traditional research programme, grant programmeor procurement.
1795-1810
Napoleon’s Preservation Prize
1823-1827
Turbine Prize
1829
Army Corps oEngineers NavigableRiver Prize
Search
Search History:
Searching...
Result 00 of 00
00 results for result for
  • p.
    • Notes
    Load more