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“And the winner is …” Capturing the promise of philanthropic prizes

The resource addresses the use of financial prizes to source solutions to challenges. It draws on academic literature, interviews with analysts and practitioners, surveys of prize sponsors and competitors, databases of small and large awards, and case studies of 12 effective prizes to produce lessons from a range of sectors, goals, and prize types. It provides frameworks and recommendations to help improve current prizes and stimulate effective future use. While it is targeted to philanthropic sponsors, be can also be helpful to governments considering this approach.

Publisher

McKinsey

Discipline or Practice

Social Innovation