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This is why I love Jamaica Plain.
A collection of lifted locutions, ideas, recipes, music and happenings. Out of Jamaica Plain, Mass.
(borrowed from a paper written by my colleague Michael Maltese)
For centuries, wealthy individuals, organizations, and governments have offered prizes to address specific challenges from engineering to mathematics. One of the more famous such contests dates back to the British Longitude Act in 1714, when the British government offered prizes for measuring longitude to varying degrees of accuracy. In 1773, just three years before his death, clockmaker, carpenter, and inventor John Harrison claimed the top prize by inventing what is widely considered to be the first accurate chronometer.
Centuries later, French hotelier Raymond Orteig offered a $25,000 prize to the pilot who made the first nonstop flight between Paris and New York City. This financial incentive compelled a number of the most highly skilled pilots in the world to take on the challenge. Out of obscurity, Charles Lindbergh, a 25-year old air mail pilot, succeeded in winning the prize in May 1927, ushering in the new era of commercial flight. Since then, a number of challenge competitions have been held with great success, especially the Clay Mathematics Millennium Prizes and the X Prizes, the first of which awarded $10 million to the first team to launch a reusable rocket that would spur technological development of low-cast space flight. Companies like InnoCentive now work with companies to crowd-source their more difficult challenges, and in the field of social entrepreneurship, Ashoka now runs a number of contests focused on social and economic challenges.
These competitions imbue the belief that the best solutions can come from anywhere. Moreover, they cost-effectively leverage the collective problem-solving power of a large number of individuals, some who may not even be knowledgeable about the specific area, and focus their attention through a prize incentive. As the Orteig Prize demonstrated, these bottom-up contests leverage far more money and brainpower towards solving a problem than if an organization decided instead to find experts and fund their research.