Incentive Prize on
Yun Family Foundation is proud to sponsor the Incentive Prize on Incentives (“The Challenge”), an incentive competition designed to nurture innovations that promote a better future for all through inclusive stakeholding, vested interdependent interests, and goal congruence. The Challenge invites social innovations from any discipline, including economics, politics, arts, technology, and sciences (including the social sciences).
The Challenge will run from July 1, 2019 to December 1, 2019, and a select number of winners will be chosen to receive US $5,000 each for the best proposals submitted in accordance with the terms set forth herein. The deadline for the submissions is October 31, 2019. The winners will be notified on December 1, 2019.
Qualified applicants should submit a written proposal of no more than 5000 characters (about 800 words) in the Proposal section of the Registration Form below.
The proposals should address the following questions:
- Indicate in one or two sentences the essence of your idea.
- Why is your idea an unconventional or creative approach to the problem you are addressing?
- In what ways does the existing system exhibit perverse incentives or misalignment of interests?
- In what ways does the proposed innovation reflect inclusive stakeholding (with specific attention paid to stakeholders who do not have a voice), alignment of interests, vested interdependent interests, and goal congruence?
- In what ways would the proposed innovation improve the well-being of individuals, immediate communities, and the global community?
- What are the potential risks, including outlier risks, of the proposed innovation?
- What is the implementation and distribution strategy for the innovation?
Participants are encouraged to write cogently, clearly and creatively. Participants are encouraged to think outside of the box and to challenge existing social norms and paradigms. Innovative ideas in any sphere of life will be considered. For-profit and nonprofit ideas will both be considered.
Some examples are:
- Projects in the field of education, such as a system in which students rewards their teachers, through smart contracts on the blockchain, with tokens of appreciation—in both senses of the word—ten years down the road.
- Projects in the field of humanities and arts are eligible, such as a song with an embedded social message.
- Projects in the field of healthcare, such as a system in which health insurers are given a vested interest in their insured population’s health savings ten years down the road through smart contracts that pay out tokens on the blockchain.
PLEASE NOTE: The submission deadline of October 31, 2019 has passed.
– Am I allowed to enter multiple times with multiple different ideas?
No, applicants are only allowed to submit one entry. Please submit your best idea.
– Is there any expectation that I will use the prize money to implement my idea if I win?
No, there is no expectation that the prize money will be used to implement the idea.
– I would prefer not to submit my exact age / date of birth in the form. What should I do?
If you are between the ages of 13 and 18, you are required to submit your exact date of birth in order to request permission from your parent or guardian. If you are 18 years old or older and would prefer not to disclose your exact date of birth, you may enter 01/01/1931 into the field.
– Where are you advertising the contest?
Incentive Prize on Incentives is being advertised and publicized through a select number of media outlets and distribution partners.
– How many entries do you anticipate?
We don’t know how many entries will be submitted, but we do not expect an inordinate number of submissions at this point.
– Are non-US citizens allowed to submit an application?
Unfortunately, only submissions from US citizens will be considered.