May 24, 2016
Incentivized competitions boost innovation

The last decade has witnessed a tremendous advance in technological innovations. This is also thanks to the growing diffusion of open innovation platforms, which have leveraged on the explosion of social network and digital media to promote a new culture of “bottom-up” discovery and invention. An example of the potential of open innovation to revolutionize technology and science is provided by online crowdfunding sites for creative projects, such Kickstarter and Indiegogo. In the last few years, these online platforms have supported thousands of projects, including extremely innovative...