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and-the-winner-is-philanthropists-and-governments-make-prizes-count

McKinsey&Companyhttps://khothuvien.cori!AcknowledgementsWe would like to thank the many organizations and individuals who supported this research and

and-the-winner-is-philanthropists-and-governments-make-prizes-count without whom we would not have been able to undertake it.We spoke to a wide range OÍ analysts, sponsors, administrators, and competitors in the prize

sector, who are listed in full in the appendix. We thank them all for their contributions. Twelve organizations that agreed to share their experience and-the-winner-is-philanthropists-and-governments-make-prizes-count

s in more depth deserve particular recognition. These organizations arranged interviews with multiple stakeholders within their programs and often hos

and-the-winner-is-philanthropists-and-governments-make-prizes-count

ted members of our team on site visits. We are grateful for their time, knowledge, and insight. These people (and the organization they arc currently

McKinsey&Companyhttps://khothuvien.cori!AcknowledgementsWe would like to thank the many organizations and individuals who supported this research and

and-the-winner-is-philanthropists-and-governments-make-prizes-countm Hayes. Yaroslav Hetman. Bill Hybl, Peter Kramer, and Peter Maiurro (El Pomar Foundation). Dotti Irving, Jonathan Taylor, and Ion Trcwin (The Man Boo

ker Prize). Paul Gudonis, Dean Kamen, William Miller, Cecilia Neumann. Dia Slolnitz, Wendy Trammer, and Vincent Wilczynski (FIRST). Nyssim Lefford and and-the-winner-is-philanthropists-and-governments-make-prizes-count

Anil Rathi (Idea Crossing). Craig Cooney. Aubrey de Grey. Dave Gobcl and Kevin Pcrrott (The Methuselah Foundation). Lord Cairns, Hania Farhan, Hadeel

and-the-winner-is-philanthropists-and-governments-make-prizes-count

Ibrahim and Nicholas Ulanov (The Mo Ibrahim Foundation). Doug Comstock. Ken Davidian and Andrew Petro (NASA). Jim Bennett. Reed Hastings, Jon Sanders

McKinsey&Companyhttps://khothuvien.cori!AcknowledgementsWe would like to thank the many organizations and individuals who supported this research and

and-the-winner-is-philanthropists-and-governments-make-prizes-countan Douglas, Lisa Fleming, Judith Pirn. Kenneth Quinn, and frank Swoboda (The World Food Prize Foundation), and Peter Diamandis. Bard Gccsaman. Brent K

ocher. Cristin Lindsay. Jaison Morgan and Tom Vander Ark (The X PRIZE Foundation).Wo would also like to thank several people for their thoughtful feed and-the-winner-is-philanthropists-and-governments-make-prizes-count

back on earlier drafts of this report or its findings, including Laura Callanan (McKinsey & Company), Bhaskar Chakravorti (Harvard Business School/McK

and-the-winner-is-philanthropists-and-governments-make-prizes-count

inscy & Company). Sushmita Ghosh (Ashoka Innovators for the Public/Changemakers), Charles Harper (John Templeton Foundation), Thomas Kalil (UC Berkele

McKinsey&Companyhttps://khothuvien.cori!AcknowledgementsWe would like to thank the many organizations and individuals who supported this research and

and-the-winner-is-philanthropists-and-governments-make-prizes-countUniversity), and John M. Templeton. Jr. (John Templeton Foundation).The John Templeton Foundation originally suggested the topic of this report to US,

and we are grateful to the Foundation for funding the research.McKinsey s Social Sector Office provided the resources for the research and writing of and-the-winner-is-philanthropists-and-governments-make-prizes-count

this report. The team included members from McKinsey's philanthropy, innovation, and opportunity creation practices. The primary contributors to the

and-the-winner-is-philanthropists-and-governments-make-prizes-count

research, framework design and report development included Jonathan Bays. Bhaskar Chakravorti. Tony Goland. Brent Harris. Paul Jansen, David McGaw, Jo

McKinsey&Companyhttps://khothuvien.cori!AcknowledgementsWe would like to thank the many organizations and individuals who supported this research and

and-the-winner-is-philanthropists-and-governments-make-prizes-countecutive summary7Introduction11The potential of prizes to achieve societal benefit15A celebrated history: a recent renaissanceJ 15A powerful tool for c

hange20A promising future28Developing and delivering effective prizes35When to use prizes36A framework for prize development and design38Goal setting: and-the-winner-is-philanthropists-and-governments-make-prizes-count

Moving from aspirations to objectives39Building a prize strategy45Designing a prize51Creating and executing an effective prize process60Post prize: d

and-the-winner-is-philanthropists-and-governments-make-prizes-count

riving impact, legacy, and improvement69The future of philanthropic prizes75Appendix 1: Capsule case studies78Appendix 2: Core design features92Append

McKinsey&Companyhttps://khothuvien.cori!AcknowledgementsWe would like to thank the many organizations and individuals who supported this research and