In search of excellence - Innovation contests to foster innovation and entrepreneurship in Portugal

Abstract

Innovation contests are one of numerous initiatives of different nature which have taken place in Portugal over the recent years aiming at raising consciousness of the importance and advantages of innovation and entrepreneurship. From sporadic and unpretentious events before 2000, the phenomenon gained unprecedented dimension and became a popular means that many different organizations use to uncovering novel business ideas and promoting innovation and entrepreneurship. Based on a large data base purposefully built for this research by the author, this paper characterizes the phenomenon of innovation contests in Portugal over the period 2000-2008. Findings show an increasing trend in the number of innovation contests launched annually in Portugal, high rates of rotation of the innovation contests launched annually and growing diversification of promoters.