What is an Award Challenge?
An Award Challenge is an open competition that awards a prize for the best solution to a posted problem. It uses the internet to connect to solvers and taps into the unutilized talent of the world.
Why do people participate as solvers?
There are a wide variety of reasons that solvers respond to award challenges. It ranges anywhere from the monetary reward, the thrill of solving a tough problem, a desire to better the world, or the recognition. The reasons are as diverse as the people that respond and people around the world respond to these challenges every day.
How long do Award Challenges run?
It varies. If it’s too short, not enough people will have time to respond. If it’s too long, we see diminishing responses from new solvers. For these reasons InnoCentive has devised three different award types: Ideation (runs for 30 days), Theoretical (runs for 60 days) and Reduction to Practice (runs for 90 days).
Are Award Challenges legal for Government Agencies?
The America Competes Reauthorization Act of 2010(Public Law 111-358) was signed by President Barack Obama on 4 Jan 2011. It specifically “authorizes the government to negotiate a license for the use of intellectual property developed by a participant. Permits: (1) agreements with private, nonprofit entities to administer competitions; and (2) support for a competition to consist of federally appropriated funds and funds provided by the private sector for cash prizes.”
How can I participate with my challenge?
The first step is to contact Bob Lee, Open Innovation Project Manager at the Wright Brothers Institute’s IDEA Lab to discuss the problem that you would like to solve. Phone: 937.424.3517 or Email: firstname.lastname@example.org