The History of Prizes in Technology Innovation

Gizmag recently discussed the history of government-sponsored contests as a driving force for new technology innovation. The ancestor of today’s Grand Challenge was the prize awarded to John Harrison for developing a method for measuring longitude at sea. The prize was open for nearly 60 years; Harrison himself labored on the solution for more than 30. In a demonstration of how such a prize can produce benefits for everyday life, Harrison’s ultimate solution was … a pocket watch capable of keeping accurate time, something I’m sure we all can appreciate. You can read more about the longitude prize and Harrison’s work at the British National Maritime Museum site.