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Ultrinsic is a web based incentive program that allows college students to invest money in their future academic performance. For instance, people join a gym with their friends in order to motivate themselves to exercise even though exercising is painful. Ultrinsic is currently in 36 schools.
Ultrinsic lets students set target grades and choose
cash incentives based on their individual educational goals. The incentive is created by the student and Ultrinsic each contributing money to the final reward that the student can earn by achieving the target grade. For instance, if John, a student, is taking a Math 101 and wants to receive $200 dollar if he gets an A- or better, John can go to Ultrinsic and for instance contribute $100 to his incentive. If he gets the A- or better he receives $200 if not, then he receives nothing.
Ultrinsic puts college students in control of their own motivation and lets them reap immediate rewards, making school a fun and exciting experience. Behavioral psychology has shown that people work best with proper incentives.
