Small Wins through Inducement Prizes: Introducing Challenge-Oriented Regional Prizes (CORP)

Arnault Morisson (), Isabelle Liotard and Valérie Revest
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Arnault Morisson: Institute of Geography & Centre for Regional Economic Development (CRED), University of Bern, 3012 Bern, Switzerland
Isabelle Liotard: CEPN, UMR CNRS 7234, University Sorbonne Paris Nord, 93430 Villetaneuse, France
Valérie Revest: iaelyon School of Management, University Jean Moulin, 69372 Lyon, France

Sustainability, 2023, vol. 15, issue 4, 1-14

Abstract: There is an emerging consensus that innovation policies must be geared towards solving societal challenges. The policy complexity of the third generation of innovation policy (TGIP), however, puts less-developed European regions at risk of being left behind from this novel policy paradigm due to lower institutional and governance capacities. Building on the concept of a small wins strategy that focuses on small-scale and bottom-up initiatives that are guided by a shared mission to address wicked problems, the article’s methodology uses expert interviews, examples of challenge prizes, and desk research to explore whether inducement prizes can potentially engage less-developed regions (LDRs) in TGIP to address place-based societal challenges through a small wins strategy. The article introduces the concept of a challenge-oriented regional prize (CORP) as a stepping-stone policy tool to engage LDRs in TGIP through a small wins strategy, namely regarding issues of directionality, legitimacy, responsibility, and strategic orientation. CORPs are, however, not a silver bullet policy tool for LDRs to engage in TGIPs due to their design and implementation constraints.

Keywords: inducement prizes; societal challenges; open innovation; regional policy; mission-oriented innovation policy (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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