Ready, Fire, Aim! - Mihail's Public Blog: Will reward for innovation

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Thursday, August 29, 2002

Will reward for innovation

Can a reward be used to help jump-start an industry? asks Rafe Needleman in today's What's Next on the X Prize Foundation (a $10 million prize fund designed to get private industry to build a space-launch system for tourists):

In the early days of aviation, cash awards encouraged the development of many technologies and systems, thereby helping nascent industries to grow. Charles Lindbergh was competing for the $25,000 Orteig Prize when he crossed the Atlantic in 1926. The following year, commercial air traffic jumped dramatically.

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