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We’ve seen the crowdsourcing contest model applied to everything from business documents to doughnut design. The latest spotting? One Billion Minds, a prize-led innovation platform that connects problem-solving scholars with solution-seeking companies and non-profits. One Billion Minds challenges student and alumni crowds from universities worldwide to come up with innovative solutions to real-world problems. Challenges range from designing a USD 1 teaching aid for the education of children to developing an innovative solution for the garbage disposal problem in Kolkata. Prizes from the participating corporations include cash, professional recognition, and opportunities to interview for full-time or internship positions. Members can compete as individuals or teams. In public beta as of September 2009, One Billion Minds is on a mission to change the world by unleashing the power of a billion minds on challenges in the areas of design, engineering, science, business, technology and social innovation. Something to get involved in to make that happen? (Related: Crowdsourcing economic solutions for Ireland.) Spotted by: Cecilia Biemann