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Update on the progress of the X PRIZE Foundation

Published by Sigurd De Keyser on Wed Dec 14, 2005 10:28 pm
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Press Release; As we come to the end of another exciting year we want to provide you with an update on the progress of the X PRIZE Foundation and our goals for the future.

On October 4th, 2004, the X PRIZE Foundation captured the world’s attention when SpaceShipOne flew to 100KM and won the $10 million ANSARI X PRIZE. We are proud to say that SpaceShipOne is now hanging in the Smithsonian’s National Air and Space Museum right next to the Wright Flyer and the Spirit of St. Louis.

By creating the first private race to space, the X PRIZE Foundation gave birth to a new industry with dramatic technological, social and investment opportunities. As a result of the dramatic nature of this achievement, the X PRIZE is now widely recognized as the leading organization fostering innovation and breakthroughs. The prize model that you helped create is very unique. Rather than awarding money to honor past achievements or directly funding research, the X PRIZE spurs innovation by tapping into our competitive and entrepreneurial spirits.

We are now evolving the X PRIZE Foundation into a world-class prize institute to create additional radical breakthroughs for the benefit of humanity. We are now actively looking at the feasibility of new prizes in space, energy, genomics, education, nanotechnology, and prizes in the social arena. Our goal is to look at creating breakthroughs in these fields in the same fashion that we helped drive the spaceflight industry. Put simply: offer a large enough cash prize with a well thought out set of rules, and you will achieve a solution. This is the leverage that an ‘X PRIZE’ provides.

We would be honored if you would consider continuing your support of our mission. Please feel free to contact one of us or Keith Powers (info@xprize.org) at 310.587.3355 ext 107 for additional details on our current programs, or just to review the success of the Ansari X PRIZE.

Thank you in advance for your support and most importantly for being part of the X PRIZE family.

Sincerely,

Peter H. Diamandis, MD
Chairman and CEO

Rod O’Connor
President

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How can you support the X PRIZE?
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Direct Support: http://www.active.com/donations/campaign_public.cfm?key=XPRIZEmain
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As a non-profit organization we rely on your support! As we expand the mission of the Foundation into other areas of discovery, and as we building a world-class prize institute we need your help now more than ever. Please ask us about our vision for the foundation and the benefits of getting involved.

Directed Support: Fellowships: http://www.active.com/donations/campaign_public.cfm?key=XPRIZEmain
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At the X PRIZE Foundation, we not only want to launch prizes for the benefit of humanity- but we also want to share our model with the world. The Fellowship program will allow the Foundation to bring in top talent from around the world to help us while learning about how we create prizes and about the subjects we target. We will custom design a Fellowship program for you that will allow you to support the X PRIZE Foundation while also supporting young innovators from your local community or from your alma mater.

Directed Support: Sponsor the next “X PRIZE”: http://www.active.com/donations/campaign_public.cfm?key=XPRIZEmain
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The X PRIZE Foundation is in the process of creating additional prizes in other areas of discovery including: energy; space; the environment; genomics; nanotechnology; medicine and social entrepreneurship. We have created a very detailed “Prize Discovery Process” that maps out the evolution and costs associated with launching and managing an “X PRIZE”. Please ask us about our detailed “prize discovery process”.

Directed Support: Technology Improvements : http://www.active.com/donations/campaign_public.cfm?key=XPRIZEmain
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The X PRIZE Foundation needs to be at the forefront of technology but we can’t do it without your help. From helping us develop a new website and online interactive tools, to buying computers and servers and database systems, we need your help. In-kind contributions & donations are also always welcome!

Hungry for Change? Host an Educational Lunch or Dinner! http://www.active.com/donations/campaign_public.cfm?key=XPRIZEmain
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We would be honored to join you for a lunch or dinner at your home or at a local venue to talk about the mission of the Foundation and our current initiatives. Our events staff will work with you to make this an enjoyable occasion.

We are up for a challenge if you are! http://www.active.com/donations/campaign_public.cfm?key=XPRIZEmain
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Matching challenge grants are a great way to get additional leverage from day one. We will work with you to create customized challenge grants. From $10,000 online challenges to larger multi-year grants- they work!

For more information, please contact Keith Powers [info@xprize.org] by phone at 310.587.3355 ext 107 or by email at info@xprize.org

Important Tax Releif Notice:
Please see the attached summary http://www.xprizefoundation.com/donate/KatrinaTaxRelief%20Report.pdf of recent legislation enacted by Congress that presents an opportunity for increased charitable gifting until the end of 2005. In the wake of Hurricane Katrina, Congress enacted the “Katrina Emergency Tax Relief Act of 2005″ (KETRA) which temporarily eliminates limitations on charitable deductions for certain cash contributions made before the end of the year. These changes present an opportunity for increased charitable gifting. This act applies to the X PRIZE Foundation.

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