How do we incentivise innovators of all disciplines to solve our biggest social problems? From life-saving drones to mapping rainforests to AI fighting dementia, challenge prizes can enable major breakthroughs.
INTERVIEW: UK foundation Nesta wants to bring social innovation to health, education and the economy. CEO Ravi Gurumurthy on 10-year plans, scaling without losing impact, and why no idea is ‘too laughable or too boring’.
Innovation lessons of past decades have fallen by the wayside. Challenges offer better value for money, more diversity of approaches, and a means to shape markets ripe for development – and could provide the moonshot advances that society needs.
