No rules.

Rules get in the way.

This was the guiding principle under which John S. and James L. Knight Foundation CEO and president Alberto Ibargüen launched the Knight News Challenge seven years ago, a contest that has vastly amplified the influence of the 73-year-old foundation, which is dedicated to funding and promoting innovation in journalism.

Eric Newton, an advisor at the foundation, remembers walking into Ibargüen's office seven years ago to talk about rules and conditions for the fledgling contest, which was Ibargüen's idea. Here's how Newton remembers the exchange they had:

To read the original article: By Reinventing The Knight Foundation, Alberto Ibargüen Helped Reinvent The News | Fast Company | Business + Innovation