Why Leading Companies Support Innovation Prizes

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Why Leading Companies Support Innovation Prizes

May 16, 2008 4:07 PM

Market leaders realize that offering prizes for innovation can create wealth for the company, as this overview of how several companies score big wins explains. CFOs who want to access the potential for "return on prize" may be surprised by the results anticipated by companies like Cisco Systems, eBay, and MIT for major business idea competitions. These companies believe that public contests can result in new billion-dollar businesses.

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