Today Google, Inc. (NASDAQ: GOOG) announced that it would be sponsoring one of the largest cash prize events yet, a $30 million purse for the Google Lunar X Prize. In order to win $20 million, a private company somewhere in the world will have to execute a successful robotic lunar mission within the next 5 years (the next government mission is planned for somewhere within the next 6-8 years), rove around a certain distance, and transmit video back to earth. The other $10 million is set aside for a second place company ($5 million) and other 'bonus' prizes ($5 million).Calling this private effort to beat governments back to lunar space 'Moon 2.0' Google and the X Prize foundation challenge private companies to extend their footprint in space from the satellites that orbit the planet all the way to the moon.
When the Ansari X Prize for first private vehicle to make it to the edge of space debuted, many were skeptical of the ability of prizes like this to stimulate private business to challenge efforts that were typically large government efforts. A large number of contestants entered, but Burt Rutan, with the financial backing of Microsoft Corporation (NASDAQ: MSFT) billionaire Paul Allen, won the X Prize with SpaceShip One. Now Virgin Airlines is working with Rutan to commercialize trips to the edge of space, demonstrating the X Prize's viability.
In addition to the Google Lunar Prize, there is also the Bigelow Aerospace prize of $50 million for the first private company to send five people into orbit before 2010.
Comfort Zone Investing: Getting beyond today
Stock picks and pans for troubled times: RIMM, ED, ISRG, GLW, LEA, SLB, GOOG ...
Is Berkshire Hathaway better than S&P Index?
Reader Comments (Page 1 of 1)
9-14-2007 @ 1:27AM
Toi Buchanan said...
Big companies make enough money!!!! Why not sponsor an international competition of sorts for say SCHOOLS. You wouldn't even need one big prize like that. Have smaller prizes going to each continents/region with a continent's competition. How much that would help to promote education. Something that GOOGLE is used for?!?! Besides the companies that could actually USE that kind of money would probably have a hard time raising the money to even compete in it.
9-14-2007 @ 7:51PM
layla said...
hmm and I wonder who gets the rights to all the information they send back should someone complete the mission
9-15-2007 @ 12:58AM
Scorned Publisher said...
They should have no problem with the measly 30 million when they've been swindling thousands from their AdSense publishers on a regular basis for quite some time now. They've owed me over 25 grand alone or the past year and never paid it. They just close down your account and have robots give you the runaround until you give up on trying to get a real person to talk to you. You're left with no way of collecting what they owe you. There should've been a class action lawsuit against them for the breach of contract long ago. Combine that with the fact that they receive millions from advertisers that are charged for fraudulent clicks on their ads and these guys have millions to burn that they shouldn't even have. Considering all of this, to run a contest of such magnitude and only offer a top prize of 30 million is a joke. I have a better idea...take that 30 million and refund all the advertisers that are being charged daily for fraudulent clicks AND pay AdSense publishers for their commission on legit ad traffic as agreed upon. :(