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Tris Dyson, DirectorCentre for Challenge Prizes, Nesta
Public Services Lab The Public Services Lab works with a wide network ofpartners to develop and test new ways of meeting socialneeds Focus on people powered public services and the publicand social innovation system v Innovation in Giving
Nesta Impact InvestmentInvesting for impact in early stage social ventures£25 million to invest in social ventures with innovative products or services that areaddressing some of the UK’s most pressing challenges.In particular, seeking innovations that have a positive impact on:• The health and wellbeing of an ageing population;• The educational attainment and employability of children and young people;• The social and environmental sustainability of communities.NestaImpact Investment are looking for organisations that have high potential socialimpact that can be evidenced, and a financially viable business model capable ofproducing a return on investment.For more information -http://www.nestainvestments.org.uk/
What? A hub to bring together expertise on challenge prizes and to runchallenge prizes to solve challenges for the public good.Why? To increase practical evidence and understanding about challengeprizes so they can be used effectively by governments, charities andbusinesses. To have a tangible positive impact on society throughchallenge prizes.
What is NOT a Challenge Prize?Recognition Subjective
NASA Criteria of Successful Problemsa) The simpler, the betterb) Relevant to Missionc) The right level of difficultyd) Interest for sponsors and competitorse) Follow on Opportunitiesf) Public ExcitementGood Problem
1795 Napoleon’s Preservation Prize1869 Napoleon III Butter Substitute PrizeHistory of Prizes…1714 Longitude Prize
1. Armand Hammer Cancer Prize2. Rockefeller Prize for Rapid STD Test3. NHS Innovation Prize4. Global Security Prize5. Nesta Challenge to reduce social isolation of OlderPeoplePrizes in Health & Welfare
What Makes a Prize Worthy Problem?Solvable but not too solvable1Solution will be accelerated2Solutions can come from many sources3Solution is relevant to improving lives4Solution will be adopted (taken to market)5NASA - Unmanned Aircraft SystemsAirspace Operations Challenge(UAS OC) $500 USDARPA Robotics Challenge($10m US - Contract)Nesta Big Green Challenge(£1m GBP Prize Pot)Prize for Life($1m US)Wendy Schmidt Oil Clean Up Challenge($1m US)Examples
Prizes for ProcurementUNDP Renewable Energy Challenge1The ‘Maker Prize’ Assisted Living Technology2US Health Design Challenge3
Prizes for AwardsExtending MarketBoundaries /Creating newmarkets£50-£100kExtendedProductionBoundaryStimulatingPrize-AmenableMarketsScope to ExtendResource CapacityMany SmallInnovationsStep Change Large ScaleInnovationsMarket MakingNew innovation /existing marketDisrupt an existing ordeveloping market1£250-£1M £10-£100MStimulatingInnovations inexisting Markets1232Entirely newsolution/market3
In Health?Make cancer a containable disease in 10 yearsA person can affordably have a full DNA screening in their supermarketPoint of care testing to eliminate child mortality from malariaEarly diagnosis of cancer with bio-markers monitored by a robotic devicethat can transfer information to your mobile phoneHalt a flu pandemic within 1 monthHalt a Flu pandemic with a vaccine based on new structural informationA real time check on calorific balanceAlternative to Antibiotics
NASA Criteria of Successful Problemsa) The simpler, the betterb) Relevant to Missionc) The right level of difficultyd) Interest for sponsors and competitorse) Follow on Opportunitiesf) Public ExcitementWhat is a Good Problem for you?