How are award amounts chosen?
Award amounts are determined similar to how challenges are selected. An award amount will be larger if, for example, the solution has a high degree of technical complexity, will require a longer amount of time to create, has a high potential for public health impact, or is in a particular area that we want to shine a spotlight on.
Awards are also used to incentivize the target solver base and therefore do not necessarily have to be monetary. While money may be the prime motivator for some, peer recognition, exposure to funders or investors, and free passes to industry conferences, for example, can also be the appropriate incentives.