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Challenge Correlations to Determine the Complete Economic Impact of Post-Secondary Education
Correlations to Determine the Complete Economic Impact of Post-Secondary Education
STATUS: Awarded
Active Solvers: 276
Posted: Mar 24 2013
Challenge ID: 9933169
 
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Abstract

Lumina Foundation, the Seeker for this Challenge, has issued Goal 2025 – to increase the number of adults in the United States obtaining high-quality, documented, post-secondary education from roughly 44% to more than 60%.  One motivation for this goal, and a key factor for encouraging action toward it, is its economic impact.  In order to fully predict this, Solvers are requested to propose novel and unexpected correlations between post-secondary education attainment and outcomes with a clear economic impact (an expected example, for instance, is increased income). In addition to providing convincing rationale for their proposed correlation, Solvers are requested to identify one or more existing data sets that could be used to determine the correlation’s validity and the magnitude of its economic impact.  In formulating submissions to this Challenge, Solvers may consider utilizing recent progress in the field of big data analytics that have not yet been applied to this problem.

This is an Ideation Challenge with a guaranteed award for at least one submitted solution.

Overview

Lumina Foundation, the Seeker for this Challenge, has issued Goal 2025 – to increase the number of adults in the United States obtaining high-quality, documented, post-secondary education from roughly 44% to more than 60%.  One motivation for this goal, and a key factor for encouraging action toward it, is its economic impact.  In order to fully predict this, Solvers are requested to propose novel and unexpected correlations between post-secondary education attainment  and outcomes with a clear economic impact (an expected example, for instance, is increased income)In addition to providing convincing rationale for their proposed correlation, Solvers are requested to identify one or more existing data sets that could be used to determine the correlation’s validity and the magnitude of its economic impact.  In formulating submissions to this Challenge, Solvers may consider utilizing recent progress in the field of  big data analytics that have not yet been applied to this problem.

This is an Ideation Challenge, which has the following unique features:

  • There is a guaranteed award.  The awards will be paid to the best submission(s) as solely determined by the Seeker. The total payout will be $10,000, with one award being at least $5,000, and no award being smaller than $2,000.
  • The Solvers are not required to transfer exclusive intellectual property rights to the Seeker.  Rather, by submitting a proposal, the Solvers grants to the Seeker a royalty-free, perpetual, and non-exclusive license to use any information included in this proposal.

After the Challenge deadline, the Seeker will complete the review process and make a decision with regards to the Winning Solution(s).All Solvers that submitted a proposal will be notified on the status of their submissions; however, no detailed evaluation of individual submissions will be provided.

What is InnoCentive?
InnoCentive is the global innovation marketplace where creative minds solve some of the world's most important problems for cash awards up to $1 million. Commercial, governmental and humanitarian organizations engage with InnoCentive to solve problems that can impact humankind in areas ranging from the environment to medical advancements.

What is an InnoCentive Ideation™ Challenge?

An InnoCentive Ideation™ Challenge is a broad question formulated to obtain access to new ideas, similar to a global brainstorm for producing a breakthrough idea or market survey which may include ideas for a new product line, a new commercial application for a current product, or even a viral marketing idea to recruit new customers. Ideation™ Challenge submissions are typically about two written pages, and Seekers receive a non-exclusive, perpetual license to use all submissions.

In an Ideation™ Challenge, Solvers may:

  • Submit ideas of their own
  • Submit third party information that they have the right to use and further the authority to convey that right and the right to use and develop derivative works to Seekers
  • Submit information considered in the public domain without any limitations on use

Solvers should not reveal any confidential information in their submissions. Often the Ideation™ Challenge will be followed by one or more of the other three Challenge types to further develop the ideas and gain Intellectual Property protection when the concept has been well-defined.

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