X Prize Foundation saving the world, $10 million at a time
DOWNTOWN A little-known foundation that sparked the first private flight into space is now set to launch a series of competitions aimed at solving the world’s technological, medical and social ills.
Members of the X Prize Foundation, based here in Santa Monica, will soon be meeting with advisors from across the globe to narrow down objectives for the world’s most creative and determined minds to tackle.
“We try to pick prizes where the solution would have a significant benefit to the community,” said Tom Vander Ark, who took over as president of the foundation in January after nearly eight years with the philanthropic juggernaut Bill and Melinda Gates Foundation. “The difficulty is trying to pick those prizes where there are donors interested in the field so we can secure a prize purse, and also find a goal that can captivate the public’s attention because it is important.”
Some of the ideas being considered include lunar exploration or a manned orbital flight, a program to customize educational programs for youth, an early detection program for cancer and poverty reduction, according to Vander Ark.
Late last year, the foundation launched a $10 million prize earmarked for the first team of scientists to successfully map 100 human genomes in 10 days — a task that is daunting, but deemed critical in curing many life-threatening diseases, such as cystic fibrosis.
The genomes contest is being funded by Stewart Blusson, a millionaire Canadian mining magnate who discovered one of the largest diamond mines in North America.
To help finance the next wave of prizes, X Prize has launched a $50 million fund drive.
Those willing to shell out $2.5 million or more can join the non-profit foundation’s elite “Vision Circle,” where they can help try to change the world. Former Vice President Al Gore and billionaire Richard Branson, whose SpaceShipOne team landed the first X Prize purse and paved the way for the tycoon to launch a commercial space tourism company, have announced a $25 million prize to come up with new ways to combat greenhouse gases. While X Prize’s approach may seem innovative and exciting, it isn’t new. Vander Ark likes to refer to it as a “new, old idea.”
The initial X Prize was modeled after the $25,000 Orteig Prize that was sponsored by well-heeled hotel owner Raymond Orteig and resulted in Charles Lindbergh’s first-ever non-stop flight between New York and Paris.
“It turns out Lindbergh was the underdog,” Vander Ark said. “Other teams ended up spending $400,000 to win $25,000, and (Orteig) was intrigued by the leverage and efficiency a prize could offer.
“And it continues to intrigue people.”
Originally published in the Santa Monica Daily Press print edition on March 16, 2007. Read the original PDF.