Why use inducement prizes?

Challenge prizes have been used throughout history and offer a reward to whoever can first or most effectively meet a defined challenge. They prescribe the goal, but not how the goal should be achieved.

Europe is home to world-leading researchers  and  innovators in ICT who are uniquely well-positioned to tackle the urgent challenges society faces. Inducement prizes are a proven, high-impact tool for mobilising such talent to develop innovations which solve societal problems.

The project Partners

Over the coming year, this project led by Nesta, the UK’s innovation foundation, together with the Italian University Scuola Superiore Sant’Anna and the communication and public affairs company Burson-Marsteller will design 8-12 inducement prizes under several ICT thematic areas to address societal challenges affecting European communities. The project will combine rigorous analysis of the market amenabilities for an ICT prize with desk research, expert interviews and a series of workshops to validate research findings.

What’s next?

In collaboration with DG CONNECT, the project consortium is now investigating a diverse set of possible challenge topics with the aim of holding expert workshops in the spring to refine the first wave of prize of designs. More information about the project will soon be available on the Nesta website: http://www.nesta.org.uk/

Background info on Horizon prizes and next to be launched ICT related prizes