This is an old revision of this page, as edited by 24.103.67.123 (talk) at 19:18, 26 May 2003 (Fix spelling error). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.
Revision as of 19:18, 26 May 2003 by 24.103.67.123 (talk) (Fix spelling error)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)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.
The X Prize was created by a private foundation, based in St. Louis, Missouri. 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 Charles Lindbergh to make his solo flight across the Atlantic Ocean.
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.