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Why Challenge Prizes Are the Future of Innovation

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March 15, 2010 11:30 AM

500 East Cesar Chavez Street, Austin, TX 78701-4121

500 East Cesar Chavez Street, Austin, TX 78701-4121

In 1919, Raymond Orteig offered $25,000 to the first aviator to fly non-stop across the Atlantic. Though it took eight years before Charles Lindbergh finally succeeded and took the award, the Orteig Prize inspired a new model for entrepreneurship and innovation. This panel of Challenge Prize veterans explains why it works,...

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