Inducement prize contest

Inducement prize contest

An inducement prize contest (IPC) is a competition that awards a cash prize for the accomplishment of a feat, usually of engineering. IPCs are typically designed to extend the limits of human ability. Perhaps the most famous IPC was the Longitude prize, awarded to John Harrison for his highly-accurate marine chronometer.

IPCs are distinct from recognition prizes, such as the Nobel Prize.

Research has show that IPCs can be extremely effective in pushing the advancement of technology. In 2006, there is much interest in prizes for automotive achievement, such as the 250 mpg car.

List of IPCs

*Longitude prize
*Prize4Life offers between $15,000 and $5 million in prize awards for medical discoveries that remove the largest barriers to finding a cure for ALS (Lou Gehrig's disease)
*Ansari X PRIZE
*Automotive X PRIZE
*DARPA Grand Challenge
*Orteig Prize (crossing Atlantic solo, won by Charles Lindbergh)
*Methuselah Mouse Prize
*The Clay Mathematics Institute has a Millennium Prize it will award to anyone who provides a solution to one of seven important mathematics problems.
*The Foresight Institute offers a $250,000 Feynman Grand Prize for the first persons to design and build two nanotechnology devices - a nano-scale robotic arm and a computing device that demonstrates the feasibility of building a nanotechnology computer.
*Virgin Earth Challenge
*Peugeot Concours Design
*Intelligent Ground Vehicle Competition

External links

* [http://www.prize4life.org Prize4Life.org]
* [http://www.xprize.org X PRIZE Foundation]
* [http://www.xprize.org/xprizes/ansari_x_prize.html Ansari X PRIZE]
* [http://auto.xprize.org Automotive X PRIZE] info at [http://www.xprize.org X PRIZE Foundation]
* [http://auto.xprize.org Automotive X PRIZE] main site and [http://autoblog.xprize.org Automotive X PRIZE weblog]
* [http://www.xprizecup.com X PRIZE Cup]


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  • Prize — (pr[imac]z), n. [F. prise a seizing, hold, grasp, fr. pris, p. p. of prendre to take, L. prendere, prehendere; in some senses, as 2 (b), either from, or influenced by, F. prix price. See {Prison}, {Prehensile}, and cf. {Pry}, and also {Price}.]… …   The Collaborative International Dictionary of English

  • Prize court — Prize Prize (pr[imac]z), n. [F. prise a seizing, hold, grasp, fr. pris, p. p. of prendre to take, L. prendere, prehendere; in some senses, as 2 (b), either from, or influenced by, F. prix price. See {Prison}, {Prehensile}, and cf. {Pry}, and also …   The Collaborative International Dictionary of English

  • Prize fight — Prize Prize (pr[imac]z), n. [F. prise a seizing, hold, grasp, fr. pris, p. p. of prendre to take, L. prendere, prehendere; in some senses, as 2 (b), either from, or influenced by, F. prix price. See {Prison}, {Prehensile}, and cf. {Pry}, and also …   The Collaborative International Dictionary of English

  • Prize fighter — Prize Prize (pr[imac]z), n. [F. prise a seizing, hold, grasp, fr. pris, p. p. of prendre to take, L. prendere, prehendere; in some senses, as 2 (b), either from, or influenced by, F. prix price. See {Prison}, {Prehensile}, and cf. {Pry}, and also …   The Collaborative International Dictionary of English

  • Prize fighting — Prize Prize (pr[imac]z), n. [F. prise a seizing, hold, grasp, fr. pris, p. p. of prendre to take, L. prendere, prehendere; in some senses, as 2 (b), either from, or influenced by, F. prix price. See {Prison}, {Prehensile}, and cf. {Pry}, and also …   The Collaborative International Dictionary of English

  • Prize master — Prize Prize (pr[imac]z), n. [F. prise a seizing, hold, grasp, fr. pris, p. p. of prendre to take, L. prendere, prehendere; in some senses, as 2 (b), either from, or influenced by, F. prix price. See {Prison}, {Prehensile}, and cf. {Pry}, and also …   The Collaborative International Dictionary of English

  • Prize medal — Prize Prize (pr[imac]z), n. [F. prise a seizing, hold, grasp, fr. pris, p. p. of prendre to take, L. prendere, prehendere; in some senses, as 2 (b), either from, or influenced by, F. prix price. See {Prison}, {Prehensile}, and cf. {Pry}, and also …   The Collaborative International Dictionary of English

  • Prize money — Prize Prize (pr[imac]z), n. [F. prise a seizing, hold, grasp, fr. pris, p. p. of prendre to take, L. prendere, prehendere; in some senses, as 2 (b), either from, or influenced by, F. prix price. See {Prison}, {Prehensile}, and cf. {Pry}, and also …   The Collaborative International Dictionary of English

  • Prize ring — Prize Prize (pr[imac]z), n. [F. prise a seizing, hold, grasp, fr. pris, p. p. of prendre to take, L. prendere, prehendere; in some senses, as 2 (b), either from, or influenced by, F. prix price. See {Prison}, {Prehensile}, and cf. {Pry}, and also …   The Collaborative International Dictionary of English

  • prize — n 1: property (as a ship) lawfully captured in time of war 2: the wartime capture of a ship and its cargo at sea Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

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