"Revolution through competition" is the motto of the "X Prize" Foundation. As an educational nonprofit organization, their 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."
To achieve and encourage that competition, the foundation offer huge financial rewards. With a gushing oil well in the Gulf of Mexico and many failed tries at capping it, the "X Prize" Foundation has done it again.
Calling all energy engineers, entrepreneurs, and businessmen to compete for the latest "X Prize" in the amount of $10 million to be awarded to the first person who comes up with "smart ideas to handle the spill" in the Gulf of Mexico.
Details of the contest won't be out for another two weeks but X Prize Foundation Vice President Francis Beland weighed in on the contest by commenting, "This will be a special prize, not exactly like the others we give."
Anyone with ideas to submit can email them to Mr. Beland at francis@xprize.org, according to Politics Daily.
To read more about the various "X Prizes," check out their website.
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