Prize4Life
From Wikipedia, the free encyclopedia
Prize4Life is a 501(c)(3) non-profit organization that uses the inducement prize contest concept to accelerate research into amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig's disease and motor neurone disease, to find an effective treatment.
Prize4Life was initially founded in June 2004 by three Harvard Business School students and several volunteers when one of the three students, Avichai Kremer, was diagnosed with the disease at age 29. The organization set out to raise US$10 million to provide as rewards to researchers and scientists who remove the largest obstacles to the development of a cure for ALS.[1] On 6 November 2006 Prize4Life launched its first prize offering US$1 million for a biomarker for the disease.[2]
In order to launch its first prize, Prize4Life partnered with InnoCentive an open innovation company that takes research and development problems in biology or chemistry, frames them as "challenge problems", and opens them up for anyone to solve them. It gives cash awards for the best solutions to scientists who meet the challenge criteria.[3]
In May of 2007, Prize4Life awarded $75 000 (USD) to 5 scientists and researchers who are participating in the ALS biomarker challenge for having the best ideas for so far.[4] These scientists and many others throughout the world are competing in the $1 million (USD) biomarker challenge that ends on November 6, 2008.
[edit] References
- ^ Wessel, David (2006-06-23). Using M.B.A. Drive To Speed an ALS Cure. College Journal. Retrieved on 2007-10-22.
- ^ Thayer, Ann (2006-11-15). Big Biomarker Prize. Chemical and Engineering News. Retrieved on 2007-10-22.
- ^ Prizes for Solutions to Problems Play Valuable Role in Innovation. Wall Street Journal (2007-01-25). Retrieved on 2007-10-22.
- ^ Desai Gopal, Dena (2007-05-16). Cure a disease, win a prize. Nature Network. Retrieved on 2007-10-22.
