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November 29, 2008

How to do a X-Prize

photo of Peter Diamandis

Peter Diamandis is the man behind the X-Prize, the 10 million dollar prize that went to the first team to make a 3-person reusable space vehicle that could reach 100 kilometers in altitude twice in two weeks.

To say it was a success would be a tremendous understatement... 26 teams entered the competition, spending more than $100 million dollars in their attempts to win. And the flights of the winning design (by Burt Rutan) captured world-wide media attention.

Diamandis' X-Prize Foundation is building on the success of that first competion, offering X Prizes in lunar exploration, energy conservation, and medicine.

But he's not stopping there. Diamandis wants to launch mega X-Prizes, with purses of up to a billion dollars for solving such seemingly impossible tasks as communicating at speeds faster than light or being able to predict an earthquake.

Diamandis gave a great talk about the future of the X-Prize, as well as what it takes to start your own X-Prize type competition, a couple of months ago at The Long Now Foundation. Read about the talk, watch it, or listen to it.

Posted by Chris Spurgeon at November 29, 2008 01:25 PM