X Prize Foundation
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| Founded | 1995 |
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| Focus | Public Competitions |
| Location | |
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Area served
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Energy & Environment, Exploration, Global Development, Learning, Life Sciences |
| Method | Revolution through Competition |
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Key people
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Peter Diamandis, Founder & Executive Chairman Marcus Shingles, CEO Robert K. Weiss, Vice Chairman |
| Slogan | Making the Impossible Possible |
| Website | www |
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Formerly called
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XPRIZE Foundation |
XPRIZE is a non-profit organization that designs and manages public competitions intended to encourage technological development that could benefit mankind. Their Board of Trustees include James Cameron, Larry Page, Arianna Huffington, Ratan Tata among others.
The XPRIZE mission is to bring about “radical breakthroughs for the benefit of humanity” through incentivized competition. It fosters high-profile competitions to motivate individuals, companies and organizations across all disciplines to develop innovative ideas and technologies that help solve the grand challenges that restrict humanity’s progress.
The most high-profile XPRIZE to date was the Ansari X Prize relating to spacecraft development awarded in 2004. This prize was intended to inspire research and development into technology for space exploration.
The first XPRIZE – the Ansari XPRIZE – was inspired by the Orteig Prize, a $25,000 prize offered in 1919 by French hotelier Raymond Orteig for the first nonstop flight between New York City and Paris. In 1927, underdog Charles Lindbergh won the prize in a modified single-engine Ryan aircraft called the Spirit of St. Louis. In total, nine teams spent $400,000 in pursuit of the Orteig Prize.
In 1996, entrepreneur Peter Diamandis offered a $10-million prize to the first privately financed team that could build and fly a three-passenger vehicle 100 kilometers into space twice within two weeks. The contest, later titled the Ansari XPRIZE for Suborbital Spaceflight, motivated 26 teams from seven nations to invest more than $100 million in pursuit of the $10 million purse. On October 4, 2004, the Ansari XPRIZE was won by Mojave Aerospace Ventures, who successfully completed the contest in their spacecraft SpaceShipOne. The prize was awarded in a ceremony at the Saint Louis Science Center in St. Louis, Missouri. As of 2011, the Science Center maintains numerous exhibits about the XPRIZE.
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Wikipedia