Innovation prizes: a guide for use in a developing country context
This report presents an analytical guide to assessing whether and why it is appropriate to use an innovation prize – defined as a financial incentive that induces change through competition – to solve a specific and pre-defined problem, with a particular focus on developing country contexts and, especially, supporting the poorest within these countries. It is part of a suite of four papers (a guide and three thematic papers) that capture the learning from the first year of the Ideas to Impact programme.
The intended audience is potential prize sponsors who have identified a problem and would like to explore whether an innovation prize is a suitable instrument with which to address it. It is likely that this will include governments, both at national and sub-national levels in donor and developing countries, as well as bi- and multilateral organisations; NGOs; academic institutions; private foundations; and industry and consumer associations. Beyond the guide’s primary focus on establishing whether or not a prize is a suitable instrument for solving a particular problem, it should also help potential prize sponsors or designers refine an initial prize concept and/or the particular problem to which the prize will be applied, so as to maximise the chance of achieving and sustaining