The use of challenge funds to promote economic and social development continues to grow, but has been the subject of relatively little research. This paper develops a definition of what challenge funds are and how they differ from other development funding mechanisms, taking into account their...

Advancements in science and technology are important drivers of economic growth and well-being and have the potential to help countries leapfrog stages of development. Greater investments are needed to strengthen developing countries’ research capacity and exploit the benefits of modern...