REI Seminar:
Approaches to Innovation in Green Energy

Date

Oct 04 2019

Time

10:45 am - 12:00 pm

Location

IFNH -- Room 101
61 Dudley Rd. New Brunswick, NJ 08901

  • Chris Frangione

    Chris Frangione is the managing director of Frangione & Associates Innovation Advisors who specializes in assisting non-profit organizations, corporations, and government agencies with leveraging open innovation, big data, the crowd, and exponential technologies to maximize their impact. He holds both an MEM and MBA from Duke University.
    More Information about Mr. Frangione

    Chris Frangione

    Chris Frangione is the managing director of Frangione & Associates Innovation Advisors who specializes in assisting non-profit organizations, corporations, and government agencies with leveraging open innovation, big data, the crowd, and exponential technologies to maximize their impact. He holds both an MEM and MBA from Duke University.
    More Information about Mr. Frangione

Abstract: 

Besides just harnessing the innovation that can help solve the problem, we need to engage the public so that they do their part—whether that be making simple lifestyle changes, using their purchasing power to demand the solutions are successful in the market, or even contributing to the portfolio of solutions by creating their own.

Environmental challenges are vast, and significant investment is needed to develop and implement a portfolio of solutions. Currently, the market is just not investing enough in these solutions because it has not been required or incentivized to deal with the impact of the problems it creates. With a lack of serious interest from the market to make a change, other organizations need to step in to:

1) Make the world aware of the problem so the market may be forced or may choose to act, and

2) Provide the seed funding to incentivize the development of solutions and get them to market.

No single organization or group of organizations could provide the capital necessary to solve the entire problem. Organizations need to leverage their limited resources – time and money – to have the biggest impact on environmental problems by incentivizing global innovation. But, when facing innovation challenges such as these, the natural tendency is to look to the known players to come up with creative solutions. But in a world of exponentially growing problems, our traditional problem-solving methodologies are not enough. This talk will focus on using incentive challenges as one tool to spur innovation to solve our environmental challenges by using the power of the global crowd. This talk will share the history of prizes, prize theory, what makes a good prize, and a few case studies.


Date

Oct 04 2019

Time

10:45 am - 12:00 pm

Location

IFNH -- Room 101
61 Dudley Rd. New Brunswick, NJ 08901
X

Organizer

Rutgers Energy Institute
Website
https://rei.rutgers.edu/