Inducement prize contest

An inducement prize contest (IPC) is a competition that awards a cash prize for the accomplishment of a feat, usually of engineering. IPCs are typically designed to extend the limits of human ability. Some of the most famous IPCs include the Longitude prize (1714–1765), the Orteig Prize (1919–1927) and the prizes from the X Prize Foundation.

IPCs are distinct from recognition prizes, such as the Nobel Prize, in that IPCs have prospectively defined criteria for what feat is to be achieved for winning the prize, while recognition prizes may be based on the beneficial effects of the feat.

Research has shown that IPCs can be extremely effective in pushing the advancement of technology.

Throughout history, there have been instances where IPCs were successfully utilized to push the boundaries of what would have been considered state-of-the-art at the time.

The Longitude Prize was a reward offered by the British government for a simple and practical method for the precise determination of a ship's longitude. The prize, established through an Act of Parliament (the Longitude Act) in 1714, was administered by the Board of Longitude. Another example happened during the first years of the Napoleonic Wars. The French government offered a hefty cash award of 12,000 francs to any inventor who could devise a cheap and effective method of preserving large amounts of food. The larger armies of the period required increased, regular supplies of quality food. Limited food availability was among the factors limiting military campaigns to the summer and autumn months. In 1809, a French confectioner and brewer, Nicolas Appert, observed that food cooked inside a jar did not spoil unless the seals leaked, and developed a method of sealing food in glass jars. The reason for lack of spoilage was unknown at the time, since it would be another 50 years before Louis Pasteur demonstrated the role of microbes in food spoilage. Yet another example is the Orteig Prize which was a $25,000 reward offered on May 19, 1919, by New York hotel owner Raymond Orteig to the first allied aviator(s) to fly non-stop from New York City to Paris or vice versa. On offer for five years, it attracted no competitors. Orteig renewed the offer for another five years in 1924 when the state of aviation technology had advanced to the point that numerous competitors vied for the prize. Several famous aviators made unsuccessful attempts at the New York–Paris flight before relatively unknown American Charles Lindbergh won the prize in 1927 in his aircraft Spirit of St. Louis.

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