In addition to the traditional funding models mentioned in this story, we would like to also mention a new funding model available for ALS research. Prize4Life is a nonprofit organization that awards two prizes of $1 million each (the ALS Biomarker Challenge and the ALS Treatment Prize). Instead of recognizing historical accomplishments, Prize4Life designs prizes that we believe are achievable in a two- to three-year timeframe and then recruits teams to compete. Prize competitions have been steadily gaining traction in a variety of domains of innovation because their emphasis on specific outcomes has the capacity to propel a field forward very quickly, and can attract creative thinking from both within a field and “outside the box.” For example, in 2009 Prize4Life awarded two $50,000 Milestone Prizes, one of which went to an established ALS researcher, and one of which went to a trained dermatologist who explored a completely novel approach towards an ALS biomarker. Visit Prize4Life to learn more or to register to compete for a prize.
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In addition to the traditional funding models mentioned in this story, we would like to also mention a new funding model available for ALS research. Prize4Life is a nonprofit organization that awards two prizes of $1 million each (the ALS Biomarker Challenge and the ALS Treatment Prize). Instead of recognizing historical accomplishments, Prize4Life designs prizes that we believe are achievable in a two- to three-year timeframe and then recruits teams to compete. Prize competitions have been steadily gaining traction in a variety of domains of innovation because their emphasis on specific outcomes has the capacity to propel a field forward very quickly, and can attract creative thinking from both within a field and “outside the box.” For example, in 2009 Prize4Life awarded two $50,000 Milestone Prizes, one of which went to an established ALS researcher, and one of which went to a trained dermatologist who explored a completely novel approach towards an ALS biomarker. Visit Prize4Life to learn more or to register to compete for a prize.
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