Laura Bunt (NESTA) on key learning on challenge prizes
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Transcript of Laura Bunt (NESTA) on key learning on challenge prizes
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Smart incentives for social innovation
Some of NESTA’s lessons on challenge prizes
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“None of us is as smart as all of us”
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Prospective Retrospective
Open
Closed
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“A £1 million innovation prize for community-led responses to climate change.”
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Source: Smart incentives for people-powered innovation. How to deliver the Big green Challenge prize approach. NESTA
1. A challenge prize
2. Outcome-focused
3. Staged process
4. Not prescriptive
5. Open
Five
Prin
cipl
esThe staged process of the Big Green Challenge
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...THE GREEN VALLEYS
10 finalists4 winners
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…HOUSEHOLD ENERGY SERVICES
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At least 10-46% reduction on baseline in the BGC year
At least 4860 t Co 2yr* in future years
*CO2 reductions in the Big Green Challenge year were monitored by CRed on behalf of NESTA. This data provides a conservative estimate of reductions achieved by Finalists across the Big Green Challenge year. The emissions reductions achieved, now and in the future, may well be higher than the reductions reported here.
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BGC changed behaviour – key to tackling complex social issues
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The importance of asking good questions
Lessons learned
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Reward outcomes not activity
Lessons learned
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Financial incentives aren’t everything
Lessons learned
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• What issues should we tackle through prizes? What are the best questions?
• What’s the right scale for a challenge prize? How elastic is funding?
• How can we measure outcomes more effectively?
• Who participates in prizes? Can we access new problem solvers?
What’s next?
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Practical Policy & Research
The Big Green Challenge
Mass Localism
Social Challenge Prize GuideMake It Local
Big Green Challenge evaluations
Buying Power: SBRI health-check
Neighbourhood Challenge
100% Open - Corporate open innovation challenges
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<£10k £10m £100m+
Simple, single-product or service
Characteristics of different scale inducement prizes
Complex, paradigm-shifting inventions
Specific groups: eng students, “makers”
Individuals
Improve one aspect of a product
US Air Force helicopter abseiling glove
Teams, small businesses
Larger communities or businesses
Big business or well-financed ventures
Heavy tech investment; infrastructure deployment
The general public
Global audiences; world leading firms
Size of prize£100k £1m
Omincompete Global Security Challenge
NESTA Big Green Challenge
Type of challenges
Target groups
Likely type of entrant
Requirements for winning
Real-life examples
Branson Climate challenge, Saltire prize
Gates Foundation malaria vaccine APC, Archon X-P
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