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Dr. Peter H Diamandis at the Innovation Convention. (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. In 2004, the Foundation captured the world’s attention when the Burt Rutan-led team, backed by Microsoft co-founder Paul Allen, built and flew the world’s first private spaceship to win the $10 million Ansari X PRIZE for suborbital spaceflight. The Foundation has since launched the $10 million Archon X PRIZE for Genomics, the $30 million Google Lunar X PRIZE and the $10 million Progressive Insurance Automotive X PRIZE. This prize incentivises the 100 mpg car.
The Foundation, with the support of its partner, BT Global Services, is creating prizes in Space and Ocean Exploration, Life Sciences, Energy and Environment, Education and Global Development. The Foundation is widely recognized as the leading model for fostering innovation through competition.
Dr. Peter H. Diamandis, Chairman and CEO of The X PRIZE Foundation spoke recently at the Innovation convention: “Fundamentally, I believe that all problems can be solved – the question is how to do it in an efficient fashion. Incentivized competition is one method to drive breakthroughs in areas that are stuck, where there are market failures. Through Open Collaboration, you can reach out to top minds, geniuses around the planet, and get them to work on the problem you are so passionate about changing. You get what you incentivize. It’s fundamental, it’s simple, but it’s so powerful.”
Diamandis is thinking far beyond the environmental needs of the planet. He believes that planetary exploration is a moral imperative. While saving the habitability of the earth may be a primary importance, Diamandis enthusiasim toward space exploration and his rationale is worth listening to. Watch his TED lecture below: Includes the economic incentive of prize money for innovation.
| http://www.ted.com Peter Diamandis says it's our moral imperative to keep exploring space -- and he talks about how, with the X Prize and other incentives, we're going to do just that. |
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