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An inducement prize contest (IPC) is a competition that awards a cash prize for the accomplishment of a feat, usually of engineering. IPCs are typically designed to extend the limits of human ability. Some of the most famous IPCs include the Longitude prize (1714–1765), the Orteig Prize (1919–1927) and prizes from enterprises such as Challenge Works and the X Prize Foundation.
IPCs are distinct from recognition prizes, such as the Nobel Prize, in that IPCs have prospectively defined criteria for what feat is to be achieved for winning the prize, while recognition prizes may be based on the beneficial effects of the feat.
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An inducementprizecontest (IPC) is a competition that awards a cash prize for the accomplishment of a feat, usually of engineering. IPCs are typically...
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