The X PRIZE Foundation is an educational 501(c)3 nonprofit organization whose mission is to bring about radical breakthroughs for the benefit of humanity, thereby inspiring the formation of new industries and the revitalization of markets that are currently stuck due to existing failures or a commonly held belief that a solution is not possible. The foundation addresses the world’s Grand Challenges by creating and managing large-scale, high-profile, incentivized prize competitions that stimulate investment in research and development worth far more than the prize itself. It motivates and inspires brilliant innovators from all disciplines to leverage their intellectual and financial capital.
The XPRIZE Foundation conducts competitions in five Prize Groups: Energy & Environment; Exploration (Ocean and Deep Space); Global Development, Learning; and Life Sciences. Prizes won include the $10 million Ansari XPRIZE for private, suborbital space flight; the $10 million Progressive Insurance Automotive XPRIZE for creating safe, affordable, production-capable vehicles that exceed 100 MPG energy equivalent (MPGe); and the $2 million Northrop Grumman Lunar Lander XCHALLENGE for advanced rocket development. Active prizes include the $30 million Google Lunar XPRIZE, the $10 million Qualcomm Tricorder XPRIZE, the $2.25 million Nokia Sensing XCHALLENGE, and the $2 million Wendy Schmidt Ocean Health XPRIZE.