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Re:An open competition to build a smaller power inverter, wi... by JOfferijns on Tuesday July 22, 2014 @05:51PM (#8071768)
There are quite a lot of these contests, namely the various X PRIZE competitions: http://www.xprize.org/

They aren't taking the IP and are also giving the cash as a pure incentive, meant to inspire new innovations in a certain sector.

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