Innovation challenges are a proven method for addressing complex social and economic issues. By fostering collaboration and leveraging innovative solutions, they encourage a broad range of participants, from grassroots organizations to startups and large corporations. A few notable examples of successful organizations launching innovation challenges include:
IMPACT Canada: The Impact Canada Initiative, led by the Privy Council Office’s Impact and Innovation Unit, manages a platform that enables government departments to issue challenges and engage diverse problem solvers. One such challenge, the Type 2 Diabetes Prevention Challenge, led to a reduction of diabetes risk in various communities.
EU Horizon Prizes: The European Commission’s Horizon Prizes incentivize innovative solutions across various sectors, including health, environment, and technology. Successful challenges have led to breakthroughs in affordable renewable energy storage and reducing air pollution in urban areas.
XPRIZE Foundation: The XPRIZE Foundation is a non-profit organization that launches high-profile competitions to solve global challenges. The XPRIZE mission is to bring about “radical breakthroughs for the benefit of humanity” through incentivized competition. One notable success is the Water Abundance XPRIZE, which advanced technologies to provide safe drinking water to underserved communities.