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

Journal of Organization Design, Vol. 3, No. 3, p. 46-52

7 Pages Posted: 15 Jan 2015

See all articles by Mokter Hossain

Mokter Hossain

Qatar University; Qatar University - Center for Entrepreneurship

Ilkka Kauranen

Aalto University

Date Written: October 20, 2014

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.

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

Suggested Citation

Hossain, Mokter and Hossain, Mokter and Kauranen, Ilkka, Competition-Based Innovation: The Case of the X Prize Foundation (October 20, 2014). Journal of Organization Design, Vol. 3, No. 3, p. 46-52, Available at SSRN: https://ssrn.com/abstract=2549616

Mokter Hossain (Contact Author)

Qatar University ( email )

2713 Doha
Qatar

Qatar University - Center for Entrepreneurship ( email )

2713 Doha
Qatar

Ilkka Kauranen

Aalto University ( email )

P.O. Box 21210
Helsinki, 00101
Finland

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