Challenge Prizes: A Practice Guide
How to run a challenge prize
Breakthrough prize Prize objective To create transformative solutions to a difficult problem Defining characteristics • Ambitious and tightly-defined goal • Technological solution • Large prize pots, longer timeframe often required Design guidance • Focus on developing a technological fix to a known barrier • Focus on developing innovations that don’t yet exist, or are in relatively early stages but facing a barrier to their further development • Structure criteria around the key attributes the solution must have in order to solve the problem you have set
Participant in the Longitude Prize
Longitude Prize Nesta Challenges’ Longitude Prize aims to stem the tidal wave of antibiotic resistance – one of the greatest challenges of the 21st century. The £8m prize incentivises the creation of a novel, rapid, point-of-care diagnostic test to reduce and/or better steer the use of antibiotics. The winning test will ensure that people get the right treatment at the right time, potentially saving millions of lives and preserving antibiotics for future generations. 44
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