Creating Innovation with Prizes

Much has been made of the First National Bank (FNB) innovation programme which has seen employees take home millions of rands in incentives for “big ideas”, however their initiative has been very much an exception rather than the rule in South Africa.

One of the regular topics that come up for discussion when we meet with executives from local companies is how do they implement innovation competitions within their own businesses to help them identify growth opportunities.

Jaison Morgan speaking at TEDxMidAtlantic 2012 earlier this year, believes he has some ideas.

Jaison Morgan is the Managing Principal of The Common Pool and Co-Founder of RAMPIT Software. He’s been recognized by the BBC as “the world’s expert” in designing incentives to drive innovative breakthroughs.

Take a listen:

 

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