Competition-Based Innovation: The Case of the X Prize Foundation

Authors

  • Mokter Hossain Aalto University
  • Ilkka Kauranen Aalto University

DOI:

https://doi.org/10.7146/jod.9790

Keywords:

Radical innovation, breakthrough innovation, competition-based innovation, innovation competition, modularity, X Prize Foundation

Abstract

The use of competition-based processes for the development of innovations is increasing. In parallel with the increasing use of competition-based innovation in business firms, this model of innovation is successfully being used by non-profit organizations for advancing the development of science and technology. One such non-profit organization is the X Prize Foundation, which designs and manages innovation competitions to encourage scientific and technological development. The objective of this article is to analyze the X Prize Foundation and three of the competitions it has organized in order to identify the challenges of competition-based innovation and how to overcome them.

Author Biography

Mokter Hossain, Aalto University

Researcher Industrial Engineering and Management

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Published

2014-10-20

How to Cite

Hossain, M., & Kauranen, I. (2014). Competition-Based Innovation: The Case of the X Prize Foundation. Journal of Organization Design, 3(3), 46–52. https://doi.org/10.7146/jod.9790

Issue

Section

Case Study