Innovation Articles

Does Crowdsourcing Need a Cash Prize to Work?

If you are looking for a larger selection of ideas to choose from, put up a big prize. If you don’t mind a smaller selection of original ideas or don’t have the resources to vet a lot of ideas, offering no prize will work just as well. Low rewards don’t seem to serve any purpose, offering the worst of both worlds: discouraging submissions and lowering the level of originality of those submitted.
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