This report discusses federal prize competitions, which are a tool for incentivizing the achievement of scientific and technological innovation by offering monetary and non-monetary benefits (e.g., recognition) to competition participants. Prize competitions have a long history of use in both the public and private sectors, but have gained popularity in recent years. This report describes the background and current trends of federal prize competitions, potential policy considerations, and legislation in the 115th Congress.
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Description
This report discusses federal prize competitions, which are a tool for incentivizing the achievement of scientific and technological innovation by offering monetary and non-monetary benefits (e.g., recognition) to competition participants. Prize competitions have a long history of use in both the public and private sectors, but have gained popularity in recent years. This report describes the background and current trends of federal prize competitions, potential policy considerations, and legislation in the 115th Congress.
This report is part of the following collection of related materials.
Congressional Research Service Reports
The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1960's through 2018—covering a variety of topics from agriculture to foreign policy to welfare.