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Can financial rewards induce new and effective means of getting transformative development solutions to scale?

 

NAIROBI, KENYA: There has been renewed interest in challenge prizes over recent years, as a tool to drive development through innovation. 

However, there is very little hard evidence of effectiveness of prizes. Where evidence does exist, prizes seem to work best in stimulating new ideas and products, and in engaging the interest of people, organisations and communities on an issue. 

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Innovation