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Your opinion about WTN X PRIZE

Posted by: Sigurd - Fri Oct 08, 2004 5:24 pm
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Your opinion about WTN X PRIZE 
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Post Your opinion about WTN X PRIZE   Posted on: Fri Oct 08, 2004 5:24 pm
http://www.wtnxprize.org/

http://www.xprizenews.org/index.php?p=590

Feel free to share your opinion :)

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Post    Posted on: Fri Oct 08, 2004 5:31 pm
I'd have liked to see more space-related X Prizes, (using the name, I mean) and perhaps another name given to the rest of this stuff.. but really that's a trivial matter. Good luck to that effort.

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Post    Posted on: Sat Oct 09, 2004 4:56 pm
From: http://www.wtnxprize.org/

Quote:
The concept of the WTN X PRIZES is to utilize the concepts, procedures, technologies and publicity developed X PRIZE Foundation's Ansari X PRIZE competition for space and the global science and technology innovators identification process and community developed by the World Technology Network (WTN) to launch a series of technology prizes seeking to meet the greatest challenges facing humanity in the 21st century


That is one huge mess of a sentence. I had to read the news article before I had any idea what they were on about.

Now as for the competition. I think the idea is great. However, most of these innovations already have potential billion dollar markets. I read an estimate that a cure for cancer would be "worth" $46 trillion. There are similar huge rewards for most of these innovations.

Therefore I don't believe any prize will spur us on beyond what we are already investing in these fields. A lot of this is just evolutionary. The only way a prize could help is if it rewarded people for intermediate stages that had no immediate commercial benefit.

Even then, I think we're looking at billions of dollars needed to fund such a prize. Otherwise the prize money will just be white noise against the commercial backdrop for these types of developments.


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Post    Posted on: Sat Oct 09, 2004 6:14 pm
As I understand it the prizes will be for NEW solutions, ideas and so on - NEW in the sense of the NEW ideas, solutions, ways. techniques and technologies used in XPRIZE vehicles for example.



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