The Craft of Incentive Prize Design: Lessons from the Public Sector

In the last five years, incentive prizes have transformed from an exotic open innovation tool to a proven innovation strategy for the public, private and philanthropic sectors. This report offers practical lessons for public sector leaders and their counterparts in the philanthropic and private sectors to help understand what types of outcomes incentive prizes help to achieve, what design elements prize designers use to create these challenges and how to make smart design choices to achieve a particular outcome. It synthesizes insights from expert interviews and analysis of more than 400 prize