Philanthropic prize for eco-friendly products

The Dutch annual idea fest, Picnic, is hosting a contest for "innovative consumer-friendly product or a service "that contribute to an eco-friendly lifestyle, directly reduce greenhouse gas emissions and score highly on convenience, quality and design." First prize = 500,000 euros. Learn more here and here.

The funding comes from the Dutch postcode lottery, not something most Americans would think of as philanthropy. But wait a second, as more and more states privatize their lotteries, maybe Americans will start to see state-sponsored lotteries used to fund nonprofits that then host contests for commercial innovation. Now that is a new arrangement of capital for social good.

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