That seems like an amazingly gameable system. In particular, it would reward the ones who are best at taking credit, which are not necessarily the same ones that did the actual innovating. Further, it requires the deciding group to be reasonably free of prejudice. As little as a few decades back it would have completely ignored any contributions by women, for example. Finally, I would not be surprised if an outsized amount of the 'prize money' went to friends/family/acquintances of the people in the decider group.