X Prize Foundation

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X Prize Foundation,

private, nonprofit prize institute est. 1995 by commercial space entrepreneur Peter Diamandis. Based in Santa Monica, Calif., and funded by foundations and private individuals and through fund-raising activities, the foundation issues extreme technological challenges accompanied by multimillion dollar cash awards in an attempt to achieve "radical breakthroughs for the benefit of humanity." The foundation's initial award, the Ansari X Prize, announced in 1996, offered $10 million to anyone who, within the span of two weeks, could twice launch and return a piloted vehicle with two persons aboard 62.5 mi (100 km) into suborbital space. It was won in 2004 by Burt RutanRutan, Burt
(Elbert Leander Rutan) , 1943–, American aerospace engineer, b. Portland, Oreg., grad. California Polytechnic Univ. (B.S. 1965). From 1965 to 1972 Rutan worked for the U.S.
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 and his SpaceShipOne.

Other X Prizes have been announced by the foundation but not yet won. The Archon X Prize for Genomics, announced in 2004, promises $10 million to those researchers who develop a technology that within 10 days successfully sequences 100 human genomes at a cost of less than a $10,000 for each genome. The Automotive X Prize, announced in 2007, which offers a multimillion-dollar award to the developer of an affordable, production-ready automobile that will get 100 miles per gallon (c.42 km/litre). The foundation also sponsors the annual X Prize Cup, a cooperative project with the state of New Mexico that is intended to promote innovation in rocket design and spur the development of the commercial space industry.

References in periodicals archive ?
Diamandis, who will remain Chairman and CEO of the X PRIZE Foundation.
The X PRIZE Foundation is an educational nonprofit prize institute whose mission is to create radical breakthroughs for the benefit of humanity.
The X PRIZE Foundation is very proud to host Anousheh's blog.
Based on that success, the X PRIZE Foundation is now expanding their efforts to offer more prizes in the space industry, as well as, in the areas of health, energy, transportation, and education.
The X PRIZE Foundation changed the way the world looked at space travel by introducing the ANSARI X PRIZE.
Diamandis, Chairman and Founder of the X PRIZE Foundation.
Peter H Diamandis, Chairman and Founder of the X PRIZE Foundation.
Competition drives results and with the incentive of large prizes The X Prize Foundation will help move the development of new technology forward to better science," explains Venter.
We are thrilled that our affiliations with innovative organizations like the X PRIZE Foundation enable Mirror Image to be an integral part in making these historic events accessible to users around the world.