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Can a Prize Bring About New Innovations in Sexual Health?. A prize is an ‘Arthurian romance’ that makes people feel that they can participate in the quest for a solution. Geoffrey Moore, Author Crossing the Chasm. What’s your Holy Grail?. “Skill-Based” competition = a challenge - PowerPoint PPT Presentation
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Can a Prize Bring About New Innovations in Sexual Health?
A prize is an ‘Arthurian romance’ that makes people feel that they can participate in the quest for a solution.
Geoffrey Moore, AuthorCrossing the Chasm
What’s your Holy Grail?
TimeSkill
Conceptual Framework
Concepts or Ideas
Products & Services
Prototypes
“Skill-Based” competition = a challenge that requires intellectual agility
(vs. physical talent or chance-to-win)
Raw Refined
+
Prize:$25,000($290K today)
Sponsor:Raymond Orteig
Target :Anyone brave enough to try
Goal:Stimulate long-distance passenger air travel
Results: More than $400,000 in investment (16x) Underdog Charles Lindberg wins Within 18 months of his flight:
- Passenger air travel increased 30x- Licensed aircraft increased 4X- Aviation stocks soared
Historical Analog: The Orteig Prize (1919)
Ansari X PRIZE: Catalyst of the Prize Renaissance
Prize:$10,000,000
Sponsor:X PRIZE Foundation
Target :Aerospace Engineers
Goals:Jumpstart private commercial spaceflight
Results: 26 teams from 7 nations More than $100 million invested 5.5B media impressions worth > $120M Changed the paradigm that space is only
for governments Public excitement & awareness Drove regulatory reform
Ruckus Nation: Your idea could start a movement
Prize:$300,000
Sponsor:HopeLab
Target:Sedentary Tweens
Goals:A. Innovative products to increase
physical activity among middle-school kidsB. Shifting the public discourse
Results: 400+ entries 37 countries, 42 US states 6 patents filed Distributed network of more than 300 judges Recognized by President Obama as an innovative, high-impact solution
Prize:$150,0006-month contract
Sponsor:Tourism Queensland
Target :Open to anyone with a sense of adventure
Goals:Tourism & publicity
Results: 34,000 applicants from around the world Compelling web-optimized content Global exposure, millions of media impressions Promotion for Australia tourism High ROI: $150k award + operational costs
Best Job in the World
Recent Surge in Prize Funding
Aggregate prize purse, prizes over $100,000U.S. $ Millions
Source: McKinsey dataset of 227 prizes worth $100,000 or more
0
50
100
150
200
250
300
350
400
1970 1975 1980 1985 1990 1995 2000 2005
Source: McKinsey & Company
Seven Ways that Prizes Deliver Change
Identifyexcellence
1 Identifyexcellence
1 Focus a community
2 Focus a community
2 Influence public perception
3 Influence public perception
3
Strengthencommunity
5Strengthencommunity
5Educate andimprove skills
6Educate andimprove skills
6Mobilize capital7
Mobilize capital7
Focus Focus InfluenceInfluence
4 Identifyand mobilize new talent
4 Identifyand mobilize new talent
4 Identifyand mobilize new talent
Topic/problemTopic/
problem
CommunityCommunity PublicPublic
Why not?
Can a Prize Bring About Radical Innovations in Sexual Health?
Ryan [email protected]
A successful prize gets people to do what they want to do anyways – it just helps them to do it more successfully.
Robert SuttonBehavioral Psychologist
Thank You!