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

Benjamin Kumpf, Avilia Zavarella, Teodora Chis and Kathy Nothstine

No 116, OECD Development Co-operation Working Papers from OECD Publishing

Abstract: 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.

Date: 2024-08-27
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Persistent link: https://EconPapers.repec.org/RePEc:oec:dcdaaa:116-en

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