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BigCarrot: On-demand innovation
One way to build a product is to take the idea for it, and go out and try to get someone to fund its development. That's the philosophy the venture capital economy is based on. But ideas and money can flow in different directions. Prizes, for example, can fuel amazing innovation. In this development model, a bucket of money is set aside to fund a goal, and the first team to achieve the goal gets the money. The X Prize suborbital flight--funded by an insurance bond--is the currently-famous example of this. Also, Charles Lindbergh flew across the Atlantic … Read more
