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Taking its inspiration from the XPrize a new beta web site called BigCarrot.com is seeking to democratize innovation by generating inducement prizes (financial incentives) for people to innovate, and to fix broken things. The site isn't only focused on meeting goals for open source projects, but there are already open source challenges with cash prizes showing up on the site--some serious, some tongue-in-cheek. Inducement prizes are an enormously efficient method of encouraging exploration, research and achievement, says J. Kent Pepper, founder and CEO of BigCarrot.com. Could cash prizes encourage open sourcers to go where they haven't gone before?
