- Create an account in order to vote and/or comment on the panels that interest you.
- Click on the specific panel title for more info and to comment. Select "search options" below for filtering options.
- Please note: The voting period is now closed.
Link to this page-
Why Challenge Prizes Are the Future of Innovation
- Your vote:
- Yes No
- Organizer:
- Description:
- In 1919, Raymond Orteig offered $25,000 to the first aviator to fly non-stop across the Atlantic. Though it took eight years before Charles Lindbergh finally succeeded and took the award, the Orteig Prize inspired a new model for entrepreneurship and innovation. This panel of Challenge Prize veterans explains why it works, and what’s next.
- Questions
Answered: -
- What are Challenge Prizes?
- How do Challenge Prizes spur innovation?
- What are the advantages of Challenge Prizes for companies?
- What are the drawbacks of Challenge Prizes?
- Are Challenge Prizes worth the risk for participants?
- When should a company turn to Challenge Prizes vs. inhouse development?
- How should a company gauge the amount offered for challenge prizes?
- What is the track record of Challenge Prizes?
- Do Challenge Prizes work for smaller scale projects?
- What current types of Challenge Prizes are being offered?
- Level:
- Beginner
- Category:
- Business / Entrepreneurial / Monetization, Case Study, New Technology / Next Generation, Non-Profits
- Type:
- Panel
- Event:
- Interactive 2010
Developed for SXSW by Lindsey Simon