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The "Noble" Prize: Incentivizing Noble (virtuous, magnanimous) Innovators

Launch a Nobel-like prize where businesses with "noble" innovations are rewarded with a large, free marketing campaign that showcases their world benefit innovation and helps them generate revenue.

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The Prize:

A large, free marketing campaign that showcases a company’s world benefit innovation, with the express goal of helping that business generate revenue.

Who Gets the Prize?:

Businesses with innovations that provide world benefit as measured by their environmental, social, and governance impact. The Global Reporting Initiative (GRI) would be a great starting template for this evaluation.

How does your concept celebrate, identify or inspire for-profit businesses that act as agents of world benefit?

As folks in business like to say, “What gets incentivized gets done.” Prizes like the Nobel Prize and the MacArthur “Genius Grant” have helped incentivize great artists, scientists, peacemakers, and economists to do the “greatest benefit on mankind”. While these prizes do bring significant financial benefits, their greatest benefit is arguably the recognition and prestige that they bring to their recipients. For many of these artists, academics, and thought leaders, recognition is a worthy end in itself. The same cannot be said of business. Unlike in academic research and the arts, business is primarily concerned with generating value for specific stakeholders. This value is usually measured in dollars and cents. On a very basic level, recognition and prestige are only important to a business inasmuch as they can help generate revenues. We can make this happen!!!

How will your concept help us create or leverage stories of world benefit that are sticky and shareable?

Motivated Innovators + Inspired Audiences + World Benefit = Symbiosis (Win, Win, Win) The same vehicle used to incentivize world benefit innovators also serves to tell their stories to a massive audience, leading to MORE world benefit innovators. The ladder of benefits keeps going in a endless cycle of world-benefiting awesomeness.

What will it take to scale your concept so that its reach is global and widespread?

I could use some help on this point! Marketing campaigns are expensive, so we'll need a lot of funding to make this work. Some possible ideas include: • Sponsorship by a philanthropist or foundation (similar to Nobel and MacArthur) • Sponsorship by a group of companies • In-kind donations from marketing firms, consultants, and advertisers. • Combination of the above.

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