X-Prize Foundation Announces $10m Prize for Oil Spill Solution


Photo: Flickr, CC
A Bigger Carrot for Innovation
The X-Prize Foundation's mission is to "bring about radical breakthroughs for the benefit of humanity", and right now, a breakthrough in oil spill cleanup certainly would make the world a better place, so it's no surprise that X-Prize is launching a new $10 million prize for the development of effective oil spill cleanup technologies. Will this be enough to catalyze innovation?

Photo: Flickr, CC

As our friends at Triple Pundit report: "[Francis Beland, a VP at the XPrize Foundation,] announced the bounty at the TedXOilSpill conference in Washington, DC on Monday. Led by leaders in academia, business, and NGOs, TedXOilSpill has already succeeded in documenting the growing catastrophe in the Gulf. Photographers and videographers have documented the devastating environmental impacts and most significantly, BP officials who have interfered with the media and organizations who wish to help out in the region."

Beland said that at first the foundation wanted to design a prize that would focus on actually stopping the leak, but they were "unable to obtain enough data to design such a challenge", so they decided to focus on the cleanup part.

BP Should Add Money to the Pot
I think BP should contribute some cash to the prize. It's the least they could do...

Via AP, Triple Pundit
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