Fostering innovation in low- and middle-income countries through challenge funds and prizes: Lessons for development co-operation

For centuries, governments in high-income countries have offered financial incentives to external parties for innovative solutions to complex problems. However, open innovation mechanisms like challenge funds and prizes have been less prevalent in low-income countries. This working paper explores th...

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Bibliographic Details
Main Author: Kumpf, Benjamin (Author)
Other Authors: Zavarella, Avilia (Contributor), Chis, Teodora (Contributor), Nothstine, Kathy (Contributor)
Format: Electronic eBook
Language:English
Published: Paris OECD Publishing 2024
Series:OECD Development Co-operation Working Papers no.116
Subjects:
Online Access:DE-862
DE-863
Summary:For centuries, governments in high-income countries have offered financial incentives to external parties for innovative solutions to complex problems. However, open innovation mechanisms like challenge funds and prizes have been less prevalent in low-income countries. This working paper explores the effects of such mechanisms on innovation ecosystems and how challenge funds and prizes have contributed to building dynamic capabilities in public sector entities.
Physical Description:1 Online-Ressource (47 Seiten) 21 x 28cm.

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