Prizes also have an impressive 200+ year long track record of funding innovations (they were once the dominant funding mechanism see http://mason.gmu.edu/~rhanson/whygrant.pdf). Inducement prizes could be credited with funding the development of Hooke's chronometer, some of the key early steam locomotive trains, and many other key innovations.
Prizes also have an impressive 200+ year long track record of funding innovations (they were once the dominant funding mechanism see http://mason.gmu.edu/~rhanson/whygrant.pdf). Inducement prizes could be credited with funding the development of Hooke's chronometer, some of the key early steam locomotive trains, and many other key innovations.