dw2

The X PRIZE Foundation has an audacious vision.

On its website, it describes itself as follows:

The X PRIZE Foundation is an educational nonprofit organization whose mission is to create radical breakthroughs for the benefit of humanity thereby inspiring the formation of new industries, jobs and the revitalization of markets that are currently stuck

The foundation can point to the success of its initial prize, the Ansari X PRIZE.  This was a $10M prize to be awarded to the first non-government organization to launch a reusable manned spacecraft into space twice within two weeks.  This prize was announced in May 1996 and was won in October 2004, by the Tier One project using the experimental spaceplane SpaceShipOne.

Other announced prizes are driving research and development in a number of breakthrough areas:

The Archon X PRIZE will award $10 million to the first privately funded team to accurately sequence 100 human genomes in just 10 days.  Renowned physicist Stephen Hawking explains his support for this prize:

You may know that I am suffering from what is known as Amyotrophic Lateral Sclerosis (ALS), or Lou Gehrig’s Disease, which is thought to have a genetic component to its origin. It is for this reason that I am a supporter of the $10M Archon X PRIZE for Genomics to drive rapid human genome sequencing. This prize and the resulting technology can help bring about an era of personalized medicine. It is my sincere hope that the Archon X PRIZE for Genomics can help drive breakthroughs in diseases like ALS at the same time that future X PRIZEs for space travel help humanity to become a galactic species.

The Google Lunar X PRIZE is a $30 million competition for the first privately funded team to send a robot to the moon, travel 500 meters and transmit video, images and data back to the Earth.  Peter Diamandis, Chairman and CEO of the X PRIZE Foundation, provided some context in a recent Wall Street Journal article:

Government agencies have dominated space exploration for three decades. But in a new plan unveiled in President Barack Obama’s 2011 budget earlier this month, a new player has taken center stage: American capitalism and entrepreneurship. The plan lays the foundation for the future Google, Cisco and Apple of space to be born, drive job creation and open the cosmos for the rest of us.

Two fundamental realities now exist that will drive space exploration forward. First, private capital is seeing space as a good investment, willing to fund individuals who are passionate about exploring space, for adventure as well as profit. What was once affordable only by nations can now be lucrative, public-private partnerships.

Second, companies and investors are realizing that everything we hold of value—metals, minerals, energy and real estate—are in near-infinite quantities in space. As space transportation and operations become more affordable, what was once seen as a wasteland will become the next gold rush. Alaska serves as an excellent analogy. Once thought of as “Seward’s Folly” (Secretary of State William Seward was criticized for overpaying the sum of $7.2 million to the Russians for the territory in 1867), Alaska has since become a billion-dollar economy.

The same will hold true for space. For example, there are millions of asteroids of different sizes and composition flying throughout space. One category, known as S-type, is composed of iron, magnesium silicates and a variety of other metals, including cobalt and platinum. An average half-kilometer S-type asteroid is worth more than $20 trillion.

Technology is reaching a critical point. Moore’s Law has given us exponential growth in computing technology, which has led to exponential growth in nearly every other technological industry. Breakthroughs in rocket propulsion will allow us to go farther, faster and more safely into space…

The Progressive Automotive X PRIZE seeks “to inspire a new generation of viable, safe, affordable and super fuel efficient vehicles that people want to buy“.  $10 million in prizes will be awarded in September 2010 to the teams that win a rigorous stage competition for clean, production-capable vehicles that exceed 100 MPG energy equivalent (MPGe).  Over 40 teams from 11 countries are currently entered in the competition.

Forthcoming new X PRIZEs

The best may still be to come.

It now appears that a series of new X PRIZEs are about to be announced.  CNET News writer Daniel Terdiman reports a fascinating interview with Peter Diamandis, in his article “X Prize group sets sights on next challenges (Q&A)“.

The article is well worth reading in its entirety.  Here are just a few highlights:

On May 15, at a gala fundraising event to be held at George Lucas’ Letterman Digital Arts Center in San Francisco, X Prize Foundation Chairman and CEO Peter Diamandis, along with Google founders Larry Page and Sergey Brin, and “Avatar” director James Cameron, will unveil their five-year vision for the famous awards…

The foundation …  is focusing on several potential new prizes that could change the world of medicine, oceanic exploration, and human transport.

The first is the so-called AI Physician X Prize, which will go to a team that designs an artificial intelligence system capable of providing a diagnosis equal to or better than 10 board-certified doctors.

The second is the Autonomous Automobile X Prize, which will go to the first team to design a car that can beat a top-seeded driver in a Gran Prix race.

The third would go to a team that can generate an organ from a terminal patient’s stem cells, transplant the organ [a lung, liver, or heart] into the patient, and have them live for a year.

And the fourth would reward a team that can design a deep-sea submersible capable of allowing scientists to gather complex data on the ocean floor…

Diamandis  explains the potential outcome of the AI Physician Prize:

The implications of that are that by the end of 2013, 80 percent of the world’s populace will have a cell phone, and anyone with a cell phone can call this AI and the AI can speak Mandarin, Spanish, Swahili, any language, and anyone with a cell phone then has medical advice at the level of a board certified doctor, and it’s a game change.

Even more new X PRIZEs

Details of the process of developing new X PRIZEs are described on the foundation’s website.  New X PRIZEs are are guided by the following principles:

We create prizes that result in innovation that makes a lasting impact. Although a technological breakthrough can meet this criterion, so do prizes which inspire teams to use existing technologies, knowledge or systems in more effective ways.

Prizes are designed to generate popular interest through the prize lifecycle: enrollment, competition, attempts (both successful and unsuccessful) and post-completion…

Prizes result in financial leverage. For a prize to be successful, it should generate outside investment from competitors at least 5-10 times the prize purse size. The greater the leverage, the better return on investment for our prize donors and partners.

Prizes incorporate both elements of technological innovation as well as successful “real world” deployment. An invention which is too costly or too inconvenient to deploy widely will not win a prize.

Prizes engage multidisciplinary innovators which would otherwise be unlikely to tackle the problems that the prize is designed to address.

The backing provided to the foundation by the Google founders and by James Cameron provides added momentum to what is already an inspirational initiative and a great catalyst for innovation.