McKinsey just released a report titled “And the winner is…” [PDF] in response to the recent renaissance in the use of prizes to stimulate new and innovative ways to produce societal benefit. As the number and size of these philanthropic prizes has grown, people are asking when these prizes should be used, and how they can be most effective – both questions addressed by McKinsey in this report.
The winner of one such philanthropic prize will be announced at this year’s Global Philanthropy Forum conference in Washington DC. The Vodafone Americas Foundation is sponsoring a Wireless Innovation Project that seeks to identify and fund the best innovations using wireless related technology to address critical social issues around the world. This competition will award three winners prizes of $300,000, $200,000 and $100,000 for unique, late-stage wireless innovations that offer the best potential for creating social change in the areas of education, health, economic development, the environment and access to communication. We will announce the winner on the evening of Thursday April 23rd from the GPF conference.