Prize philanthropy
 |
This article has multiple issues. Please help improve it or discuss these issues on the talk page.
|
PRIZE PHILANTHROPY(SM) is a service mark of Lee Stein and his company, Virtual Capital, LLC, used to describe its services that relate to developing or providing the financial support to create and run inducement prize competitions. Inducement prize competitions have been gaining popularity because of the leverage they provide to find solutions in specific areas of discovery. PRIZE PHILANTHROPY(SM) services promote the notion that instead of, or in addition to, supporting research and development, philanthropists earmark their money to support incentive prizes that will result in real breakthroughs. The appeal of this "fixed cost philanthropy/fixed cost engineering" has an appeal for philanthropists, foundations, companies and government agencies that want to pay for actual results. PRIZE PHILANTHROPY(SM) services are used to promote all levels of giving, from multi-million dollar title sponsorships, to small individual grassroots donations.
The term PRIZE PHILANTHROPY was first coined in 2004 by Dr. Peter H. Diamandis and Keith Adam Powers, with further value added by Lee Stein with the help of Ellen Stiefler.
[edit] External links
- PRIZE PHILANTHROPY website
- Lee Stein's website
- Prize Philanthropy - the Path to the Algae Fuel Prize
- Prize Philanthropy Business Services Committed to Spur Innovation and Discovery
- Prize Philanthropy Model of Prize Competition Business Services
- X Prize Foundation website
- Dr. Peter Diamandis website
- Keith Powers website
