Abstract: Science and technology inducement prize (STIP) is a non-periodic systematic arrangement which collects high-tech achievements in order to solve specific problems.Since 1567, the number and financing amount of STIPshave been increasing, andthere have once been three "well-blowout" periods. The center of STIPshas shifted from Europe to the US, which has been consistent with the shift of world scientific and technological center. The subjects of STIPs included organizers and funders, and STIPs were financed and organized through a variety of mechanisms. The object of STIPincluded professional researchers as well asamateurs. The rewarded technology was of highly innovation and externality.STIP can be an effective complement mechanism for current science and technology fund system, and it isnecessary for us to set up STIP institutions.

Key words: Science and Technology Inducement Prizes, science and technology and innovation, science and technology reward, science and technology fund system