X PRIZE says the first step toward meeting the commitment to action will be the official launch of the Automotive X PRIZE, scheduled for early next year.  In all, a dozen prizes will be launched over the course of the seven-year commitment totaling $300 million in prize purse money, according to the Foundation.  Each prize is conceived by an expert panel of advisory board members led by an experienced veteran in the field.  The Foundation has defined four prize initiatives within each of the Clinton Global Initiative’s areas of focus—energy and environment, life sciences, education, and global poverty.

The announcement was made on stage at the Clinton Global Initiative meeting with X PRIZE chairman and CEO Dr. Peter Diamandis being joined by former President Bill Clinton, X PRIZE board of trustee member and Google co-founder Larry Page, and Arianna Huffington, editor-in-chief of the Huffington Post.

X PRIZE creates and manages prizes focused on using technology to solve challenges in areas like space, travel and genomics.  Until recently, its best known project was its $10 million Ansari X PRIZE, which resulted in the world’s first private vehicle to fly into space twice within two weeks.  The Foundation recently announced the launch of the $30 million Google Lunar X PRIZE, focused on landing a privately-built explorer on the Moon.  X PRIZE has also launched the $10 million Archon X PRIZE for genomics.

X PRIZE – www.xprize.com