Home > News > Prizes for innovation not a new concept, but still effective
March 19th, 2007
Prizes for innovation not a new concept, but still effective
Abstract:
Many Americans believe the only conceivable way for this country to develop viable independent energy sources is through government intervention — alternative-fuel mandates, fuel efficiency mandates, public transportation construction.
But we would prefer to look to the creativity of the free market. What better way to unlock that creativity than to make a competition of it, and that's just what the X Prize Foundation is doing.
The Santa Monica, Calif.-based foundation has introduced a contest centered on automotive fuel efficiency, offering a $25 million prize to anyone who can produce a commercially viable car that can get 100 miles per gallon.
As early as 1714, the British Parliament put out the call for a way to accurately calculate longitude, and proposals poured in. In 1919, Raymond Orteig offered $25,000 to the first person to cross the Atlantic Ocean in an airplane, leading to Charles Lindbergh's flight and worldwide fame and fortune. The Foresight Institute last year awarded $250,000 to two California Institute of Technology researchers, the first scientists to design and build two particular nanotechnology devices.
Source:
cnjonline.com
Related News Press |
Interviews/Book Reviews/Essays/Reports/Podcasts/Journals/White papers/Posters
Simulating magnetization in a Heisenberg quantum spin chain April 5th, 2024
Discovery points path to flash-like memory for storing qubits: Rice find could hasten development of nonvolatile quantum memory April 5th, 2024
Automotive/Transportation
Researchers’ approach may protect quantum computers from attacks March 8th, 2024
Tests find no free-standing nanotubes released from tire tread wear September 8th, 2023
Human Interest/Art
Drawing data in nanometer scale September 30th, 2022
Scientists prepare for the world’s smallest race: Nanocar Race II March 18th, 2022
Graphene nanotubes revolutionize touch screen use for prosthetic hands August 3rd, 2021
JEOL Announces 2020 Microscopy Image Grand Prize Winners January 7th, 2021
Grants/Sponsored Research/Awards/Scholarships/Gifts/Contests/Honors/Records
Discovery points path to flash-like memory for storing qubits: Rice find could hasten development of nonvolatile quantum memory April 5th, 2024
Chemical reactions can scramble quantum information as well as black holes April 5th, 2024
The latest news from around the world, FREE | ||
Premium Products | ||
Only the news you want to read!
Learn More |
||
Full-service, expert consulting
Learn More |
||