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White House Launches Challenge.gov, Offering Prize Money for Innovation

This week the White House unveiled its latest weapon in its social media arsenal — an online platform known as http://www.Challenge.gov. The site is a user-friendly aggregator of technology and innovation contests, most of which have cash prizes available for contest winners.

Since the original X-Prize — a 2004 contest awarding $10 million to the first person or team to send a privately built vehicle into space – public- and private-sector organizations have been adopting a prize scheme to engage the public’s collective knowledge to solve problems that no one company or organization likely could do by itself.

Full Story: http://www.govtech.com/gt/articles/770529

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