XPRIZE Applauds Passage of The Science Prize Competitions Act
WASHINGTON, March 4, 2015 – Today the U.S. House of Representatives Committee on Science, Space and Technology unanimously passed The Science Prize Competitions Act (H.R. 1162), a bi-partisan bill introduced by Rep. Don Beyer (D-VA-8) and Rep. Bill Johnson (R-OH-6) to strengthen the federal government’s authority to conduct prize competitions. XPRIZE Foundation Vice President of Prize Development Christopher Frangione issued the following statement:
“American innovation was granted a new tool today as prizes received the Congressional stamp of approval. We applaud the House Science, Space, and Technology Committee for prioritizing government prizes with today’s passage of The Science Prize Competitions Act. If made law, the Act will send a signal to federal agencies, the private sector and the innovation community that prizes are seen as an economically efficient way for the Federal government to incentivize innovation, catalyze industries and create solutions to some of the biggest problems facing our nation today. We encourage Congress to follow the leadership of the House Science Committee by supporting prize legislation that encourages agencies to utilize more prizes to bring about dramatic breakthroughs for the benefit of humanity.”
Founded in 1995, XPRIZE is the leading organization solving the world’s Grand Challenges by creating and managing large-scale, high-profile, incentivized prizes in five areas: Learning; Exploration; Energy & Environment; Global Development; and Life Sciences. Active prizes include the $30M Google Lunar XPRIZE, the $15M Global Learning XPRIZE, the $10M Qualcomm Tricorder XPRIZE and the $2M Wendy Schmidt Ocean Health XPRIZE. For more information, visit http://www.xprize.org.