Lessons Learned on Prize Design in the Perovskite Startup Prize

Summary

The US Department of Energy and NREL launched the Perovskite Startup Prize with a $3 million pool to accelerate the domestic perovskite industry and develop advanced solar cells. The prize utilized a novel "race" structure to incentivize early applications and rapid innovation. While successful in establishing a fast review process and a mentor network, the prize identified key lessons regarding its race structure, recruitment, and rule complexity, ultimately yielding one primary winner instead of the target two to three.

Key Facts

Source Document

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