X PRIZE Foundation Examines Potential Human Orbital Vehicle Prize for NASA December 9, 2005 Web posted at: 12:47 PM EST
(ROL Newswire) -- The X PRIZE Foundation has completed a study examining the benefits and disadvantages for a Human Orbital Vehicle (HOV) challenge.
The primary goals of the study were to gauge the interest and effectiveness of different prize amounts, identify key relationships between an HOV challenge and other NASA programs and make recommendations for potential prize rules and requirements.
Key members of the X PRIZE Foundation spent months conducting surveys with potential competitors, financiers and other industry experts. The results of these interviews were combined with the findings of previously completed studies and internal foundation expertise to create the final conclusions.
This study represents the commencement of a very serious foray into a major prize initiative for NASA. Presently, NASA's Centennial Challenges program is limited by the fact that individual prizes cannot exceed $250,000. That may change soon: the NASA Authorization Act of 2005, currently moving through Congress, will allow NASA to award much larger prizes. Both the House and Senate versions of the bill that is scheduled for conference in mid-December include provisions that would allow NASA to offer prizes worth millions of dollars or more.
The full presentation available at
Source: X PRIZE Foundation