Risk & Business Magazine JGS Insurance Fall 2021 - Page 7

XPRIZE that is in desperate need of help . Solutions . Change . And radical breakthroughs for the benefit of humanity .
( 5 ) The day before something is a breakthrough , it ’ s a crazy idea . It ’ s important to realize that truly “ breakthrough ideas ” are not small incremental improvements . They emerge as innovators reinvent fields and disrupt the existing doctrines .
HOW DO XPRIZE COMPETITIONS WORK ?
There is no shortage of important areas in the world that require breakthroughs .
The mission of the XPRIZE Foundation is to accelerate those breakthroughs and help them scale into impact .
Here are six ways that XPRIZE makes achieving breakthroughs easier :
( 1 ) Identify Prize Target Areas : XPRIZE works with innovators , scientists , and philanthropists around the world to get consensus on areas that are stuck — where innovation is possible but not moving forward . In choosing our next XPRIZEs , we are clear that not all problems are “ prizeable ” and not all prizes are XPRIZEs . Our goal is to find those challenges that can best be conquered with an XPRIZE incentive competition .
( 2 ) Develop a Set of Clear and Objective Prize Rules : Once a target area is identified ( e . g ., Commercial Spaceflight , Gigaton Carbon Removal ), XPRIZE then develops a set of clear , measurable , and actionable guidelines that offer teams a target to shoot for .
( 3 ) Raise the Funding for the Purse to Credential the Prize : Next , our Foundation raises a significant prize purse and the budget to operate the prize over two to 10 years . The size of the purse is typically proportional the size of the challenge . That is , how “ crazy ” the idea is . Most recently Elon Musk funded our largest competition to date : the $ 100M XPRIZE Carbon Removal .
( 4 ) Provide a Level Playing Field and Clear and Fair Judging : One of the most important ways we can help make breakthroughs easier is by offering teams , both big and small , a level playing field to demonstrate their solutions and technology , as well as knowledgeable and fair judges to help compare and evaluate teams .
( 5 ) Identify and Anoint a Winner : Ultimately , XPRIZE crowns a winner , giving the winner publicity , capital ( the purse ), and credibility to help them scale globally .
( 6 ) Promote the Winner and Winning Technology to Drive Impact : Finally , the XPRIZE Foundation has a responsibility to help take the winning team and technology from a news story to a scalable impact .
FINAL THOUGHTS & THE FUTURE
Creating a world of abundance isn ’ t about creating a world of luxury , it ’ s about creating a world of possibility .
We want to create a future we can be proud of .
As I think about what kind of XPRIZE competitions we ’ ll create in the next 10 to 20 years , I believe that we ’ ll continue to see prizes that help create increasing abundance in the world in areas such as food , water , shelter , communications , knowledge , education , healthcare and human rights . Our mission is to uplift and bring more possibility to every person on the planet .
Years ago , I pondered the question , “ If I had an extra billion dollars , how would I use it to make the world a better place ?”
My answer is that I would launch a set of 10 $ 100M XPRIZEs to get the world ’ s cognitive surplus working on the grand challenges we face . Here are 10 areas that those $ 100M XPRIZEs would focus on :
( 1 ) Gigaton CO2 Removal ( Already launched and in process . Thanks , Elon !)
( 2 ) An Age Reversal XPRIZE to help us extend the human health span ( This prize is in process , 50 % funded towards a $ 100M purse .)
( 3 ) An Asteroid Detection and Deflection Prize
( 4 ) A Wildfire Detection and Extinction Prize
( 5 ) An Earthquake Warning Prize ( 6 ) A Pandemic Early Warning System Prize ( 7 ) An Interstellar Transport Prize ( 8 ) A Zero-Point / Cold Fusion Energy Prize ( 9 ) A Brain Computer Prize ( 10 ) A Nanotechnology Prize JOIN MY ABUNDANCE360 COMMUNITY
If you want my coaching as an exponential entrepreneur and to reinforce those mindsets that will inspire and guide you to create a hopeful , compelling and abundant future for yourself and humanity , then consider joining my year-round Abundance360 coaching program . +
Dr . Peter H . Diamandis is an international pioneer in the fields of innovation , incentive competitions and commercial space . In 2014 he was named one of " The World ’ s 50 Greatest Leaders " – by Fortune Magazine . In the field of Innovation , Diamandis is Founder and Executive Chairman of the XPRIZE Foundation , best known for its $ 10 million Ansari XPRIZE for private spaceflight . Diamandis is also the Co-Founder and Vice- Chairman of Human Longevity Inc . ( HLI ), a genomics and cell therapy-based diagnostic and therapeutic company focused on extending the healthy human lifespan . He is also the Co- Founder and Executive Chairman of Singularity University , a graduate-level Silicon Valley institution that studies exponentially growing technologies , their ability to transform industries and solve humanity ’ s grand challenges . In the field of commercial space , Diamandis is Co-Founder / Co-Chairman of Planetary Resources , a company designing spacecraft to enable the detection and prospecting of asteroid for precious materials .
He is also the Co-Founder of Space Adventures and Zero-Gravity Corporation . Diamandis is the New York Times best-selling author of Abundance – The Future Is Better Than You Think and BOLD – How to Go Big , Create Wealth & Impact the World . He earned an undergraduate degree in Molecular Genetics and a graduate degree in Aerospace Engineering from MIT , and received his M . D . from Harvard Medical School . Diamandis ’ mission is to open the space frontier for humanity .
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