X Prize Foundation

(redirected from X-Prize Foundation)

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 ?
Peter Diamandis, founder of X-PRIZE Foundation and SEDS-USA, won the inaugural Heinlein Prize in 2006.
Paving the way has been X-Prize Foundation's Pete Diamandis and the success of the Ansari X-Prize.
Co-founded by the creator of the X-Prize Foundation, a former NASA flight director and a space tourism pioneer, is looking to strike it rich miles above the surface of the Earth by tapping near-earth asteroids for precious metals and water.
As a means of motivating Saudi society to participate in entrepreneurship and solving social challenges such as the need for local job creation, Peter Diamandis, CEO of the X-Prize Foundation and chairman and founder of Singularity University proposed that Saudi government organizations and corporations work together to offer a monetary prize to motivate citizens to come up with seemingly impossible solutions to the Kingdom's most challenging problems.
"There are many organizations around the planet--MIT, Stanford, University of Tokyo--that offer graduate-level programs in which individuals dive down deep into these issues," said Peter Diamandis, CEO of the X-Prize Foundation and vice chancellor of the University.
The afternoon session will feature Charles Zimmerman, vice president of prototype and new format development at Wal-Mart Stores Inc.; and Tom Vander Ark, president of the X-Prize Foundation.
The X-Prize Foundation was recently established to manage such prizes as the $10 million Ansari X Prize for Suborbital Spaceflight, the $10 million Archon X-Prize for Genomics, and the $20 million Google X-Prize to land and successfully operate an unmanned rover vehicle on the Moon.