Investments in the US Science, Technology, Engineering, Medicine and Innovation (STEMI) enterprise come from many different sectors and their combined effect crucially enhances the nation's competitiveness. Philanthropy is an under-appreciated component of this ecosystem, providing $21.5 billion...

Successful innovation is essential for the survival and growth of organizations but how best to incentivize innovation is poorly understood. We compare how two common incentive schemes affect innovative per- formance in a field experiment run in partnership with a large life sciences company. We...