Science prizes were awarded in the 18th century to stimulate innovation and solve practical problems, but by the 1990s, most were awarded in recognition of an achievement or discovery. Recently, prizes are again being awarded as incentives or inducements, and the U.K. and U.S. governments may see them as a means to stimulate both public interest and research at lower cost than other funding mechanisms. But challenge prizes must be backed by stable, longer-term funding to fully translate innovative research into practical products, writes Rebekah Higgitt, who is studying the history of science prizes.