Prizes for R&D – part 2

Speaking of prizes for R&D (see yesterday’s posting), I just got pre-announcement of a new National Academies study on Innovation Inducement Prizes at the National Science Foundation. The report concludes that prizes have an important role to play in our innovation system and recommends that NSF establish a a pilot program of “several small-scale prizes ($200,000 to $2 million each) in diverse areas that differ regarding prize scope and scale, contest duration, engagement of outside groups, and other features.” In other words, an experiment. Sounds good to me.

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