The X Prize Foundation Inc. of Playa Vista, Calif. created two incentive competitions with $20 million grand prizes that were designed to encourage entrepreneurs to develop breakthroughs and innovations in health care.
The X Prize Foundation modeled the health care contests after its first competition—a $10 million prize for the first private space flight.
Key Results: The X Prize Foundation crafted two incentive prizes:
- The Smoking Cessation X Prize, a $20 million grand prize that would be awarded to the first team to help at least 10,000 people to quit smoking cigarettes for a two-year period.
- The End Obesity X Prize, a grand prize of $20 million, which would be awarded to the team getting the greatest number of adult participants to lose 10 percent of their body weight and keep it off for two years.