Can a Prize Bring About New  Innovations in Sexual Health?<br />
A prize is an ‘Arthurian romance’ that makes people feel that they can participate in the quest for a solution.<br />Geoff...
“Skill-Based” competition = a challenge <br />that requires intellectual agility<br />(vs. physical talent or chance-to-wi...
Prize:<br />$25,000<br />($290K today)<br />Sponsor:<br />Raymond Orteig<br />Target :<br />Anyone brave enough to try<br ...
Underdog Charles Lindberg wins
Within 18 months of his flight:
Passenger air travel increased 30x
Licensed aircraft increased 4X
Aviation stocks soared</li></ul>Historical Analog: The Orteig Prize (1919)<br />
Prize:<br />$10,000,000<br />Sponsor:<br />X PRIZE Foundation<br />Target :<br />Aerospace Engineers<br />Goals:<br />Jump...
More than $100 million invested
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Sex::Tech 2010 Presentation

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Idea Crossing's presentation at Sex::Tech, Social Media Rockstars keynote panel, February 27, 2010.

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Sex::Tech 2010 Presentation

  1. 1. Can a Prize Bring About New Innovations in Sexual Health?<br />
  2. 2. A prize is an ‘Arthurian romance’ that makes people feel that they can participate in the quest for a solution.<br />Geoffrey Moore, Author<br />Crossing the Chasm<br />What’s your Holy Grail?<br />
  3. 3. “Skill-Based” competition = a challenge <br />that requires intellectual agility<br />(vs. physical talent or chance-to-win)<br />Raw<br />Refined<br />Time<br />Skill<br />*<br />Concepts or Ideas<br />Products & Services<br />Prototypes<br />Conceptual Framework<br />
  4. 4. Prize:<br />$25,000<br />($290K today)<br />Sponsor:<br />Raymond Orteig<br />Target :<br />Anyone brave enough to try<br />Goal:<br />Stimulate long-distance passenger air travel<br />Results:<br /><ul><li>More than $400,000 in investment (16x)
  5. 5. Underdog Charles Lindberg wins
  6. 6. Within 18 months of his flight:
  7. 7. Passenger air travel increased 30x
  8. 8. Licensed aircraft increased 4X
  9. 9. Aviation stocks soared</li></ul>Historical Analog: The Orteig Prize (1919)<br />
  10. 10. Prize:<br />$10,000,000<br />Sponsor:<br />X PRIZE Foundation<br />Target :<br />Aerospace Engineers<br />Goals:<br />Jumpstart private commercial spaceflight<br />Results:<br /><ul><li>26 teams from 7 nations
  11. 11. More than $100 million invested
  12. 12. 5.5B media impressions worth > $120M
  13. 13. Changed the paradigm that space is only </li></ul> for governments<br /><ul><li>Public excitement & awareness
  14. 14. Drove regulatory reform</li></ul>Ansari X PRIZE: Catalyst of the Prize Renaissance<br />
  15. 15. Prize:<br />$300,000<br />Sponsor:<br />HopeLab<br />Target:<br />Sedentary Tweens<br />Goals:<br />Innovative products to increase physical activity among middle-school kids<br />Shifting the public discourse<br />Results:<br /><ul><li>400+ entries
  16. 16. 37 countries, 42 US states
  17. 17. 6 patents filed
  18. 18. Distributed network of more than 300 judges
  19. 19. Recognized by President Obama as an innovative, high-impact solution</li></ul>Ruckus Nation: Your idea could start a movement<br />
  20. 20. Prize:<br />$150,000<br />6-month contract<br />Sponsor:<br />Tourism Queensland<br />Target :<br />Open to anyone with <br />a sense of adventure<br />Goals:<br />Tourism & publicity<br />Results:<br /><ul><li>34,000 applicants from around the world
  21. 21. Compelling web-optimized content
  22. 22. Global exposure, millions of media impressions
  23. 23. Promotion for Australia tourism
  24. 24. High ROI: $150k award + operational costs</li></ul>Best Job in the World<br />
  25. 25. 400<br />350<br />300<br />250<br />200<br />150<br />100<br />50<br />0<br />1970<br />1975<br />1980<br />1985<br />1990<br />1995<br />2000<br />2005<br />Aggregate prize purse, prizes over $100,000<br />U.S. $ Millions<br /> Source: McKinsey dataset of 227 prizes worth $100,000 or more<br />Recent Surge in Prize Funding<br />
  26. 26. Source: McKinsey & Company<br />Seven Ways that Prizes Deliver Change<br />
  27. 27. Can a Prize Bring About Radical Innovations in Sexual Health?<br />Why not?<br />
  28. 28. A successful prize gets people to do what they want to do anyways – it just helps them to do it more successfully.<br />Robert Sutton<br />Behavioral Psychologist<br />Thank You!<br />Ryan Wilson<br />ryan@ideacrossing.com<br />
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