Wednesday, July 8, 2009

The McKinsey & Company Report, “And the winner is…” Capturing the Promise of Philanthropic Prizes was released March 3, 2009. The Report concluded that incentive prizes are a unique and powerful tool that should be in the basic toolkit of many of today’s philanthropists. The recent renaissance of prizes is largely due to a new appreciation for the multiple ways in which they can produce change: not only by identifying new levels of excellence and by encouraging specific innovations, but also by changing wider perceptions, improving the performance of communities of problem-solvers, building the skills of individuals, and mobilizing new talent or capital. If you'd like to read the complete report it can be downloaded here.

I recently had an in-depth interview with Paul Jansen of McKinsey & Company on the origins of X PRIZE and discussed my passion and understanding of how incentive prizes work.  Thought you might like to hear it...


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