X Prize, Revolution through Competition
There is one foundation today that is widely recognised in developing innovation through competition, the X Prize Foundation. X Prize is a non-profit organisation whose mission is to create major breakthroughs for the benefit of humanity. Through competition, comes the motivation and inspiration to create solutions to world problems such as poverty, health, and the earth’s climate. Basically, the founders of X Prize put together these multi-million dollar prizes in order to motivate teams to create a solution that would, in turn, benefit the world
X prizes are being developed in various areas such as; energy and environment, exploration and education, global development, and life sciences. Exploring the field of energy and environment, developers are hoping to create a fuel that is efficient and cleaner for our environment, ending our use of oil. In the field of exploration and education, scientists are already employing their visions to expand the use of outer space, the ocean, and other unexplored borders of our earth and its surroundings. The X Prize Foundation is also investigating prizes centred on global development and life sciences, with hopes that it would result in solutions to global poverty and improved health care.
One of the recent competitions, the Progressive Automotive X Prize, holds a $10 million prize for the first team to build a car that gets 100 MPGe (MPGe= miles per gallon or gasoline equivalent energy) and is safe and affordable for consumers. The goal of this competition is to inspire a new generation of efficient and practical vehicles that will steer us away from our dependence on oil and change the effects of climate change. The competition kicked off on April 26, 2010 and will go on to the end of August. Throughout this time, Progressive Insurance Automotive X Prize will conduct a series of competitions aimed at evaluating the safety, efficiency, and performance of each vehicle. This competition could possibly change the automotive industry. Ongoing updates of these competitions can be found at www.progressiveautopriz.org
Imagine what other kinds of bets we could create that would make the world a better place. X Prize is always coming up with new ideas for competitions. The video clips posted are some of the ideas that X Prize is currently working on. Along with entrepreneurs, scientists, and innovators, X Prize is working to change the world one competition at a time.
To learn more on the X Prize Foundation, go to www.xprize.org


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