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| The '''X Prize''' is a $10 million payment awaiting the person or company that privately finances, builds and launches a spaceship able to carry three people to an altitude of 100 kilometers (62.5 miles) and return safely, then repeat the trip within two weeks. | |||
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| The X Prize was created by a private foundation, based in ], ]. It is designed to help create a space industry, and is modeled after many prizes from the early 20th century that helped prod the development of air flight - notably the $25,000 Orteig Prize that spurred ] to make his solo flight across the ]. | |||
| The X Prize is said to be funded through January 1, 2005, via private donations, backed by an insurance policy. More than 20 teams from seven countries have registered to compete for it. | |||
Revision as of 12:59, 8 June 2003
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