Substantial prizes like the ten million dollars X Prize have been
spurring progress since the 1920s when Charles Lindbergh stepped up to
the twenty-five thousand dollar purse he went on to claim. Virtually
any innovation that will benefit humanity is up for an X Prize - from
sequencing the human genome, to skimming surface oil, to mobile
medical diagnosis (sponsored by Qualcomm) to early detection of
tuberculosis (sponsored by Bill and Melinda Gates). These purses are
incentivizing teams to solve problems for the greater good and each
effort will produce ten times the amount of the prize itself in
spending for research and development. Jobs, jobs, jobs!!!
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