White House Says Streamlined Prize Rules Spur Innovation

Law360, New York (April 10, 2012, 7:24 PM EDT) -- Streamlined rules for small-scale technology prizes — like the Pentagon's planned $2 million competition to design a better humanoid robot — have helped agencies hedge their bets and control costs when seeking innovation in new projects, the White House said Tuesday.

President Barack Obama signed the America Competes Reauthorization Act in January 2011, granting all federal agencies broad authority to conduct prize competitions to solve persistent problems. The act gives agencies the legal authority to award prizes of up to $50 million with existing appropriations, allows...
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