What is a prize challenge?
Prize challenges offer incentives to motivate innovators to solve difficult problems. As far back as 1919, when Charles Lindberg won the Orteig Prize for completing the world’s first trans-Atlantic flight, organizations have been launching prize challenges to crowdsource new products, solutions, and ideas. Today, organizations such as NASA, Boeing, MIT, XPRIZE, and DARPA run prize challenges to tackle the world’s biggest challenges.
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