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“The best way to predict the future is <br />to create it yourself.”<br />incentive2innovate – June’09<br />Peter H. Diama...
1927 Orteig Prize:  New York - Paris<br />“First team to fly non-stop between NY and Paris”<br /><ul><li>Orteig puts up $2...
9 Teams spend $400,000
Lindbergh, 25 year old underdog wins!
Results:</li></ul>Top media story of the century<br />Transformed public’s view of Aviation<br />6,000  180,000 passenger...
Ansari X PRIZE<br />“First team to fly 3 people to space, twice within 2 weeks”<br />Rules:<br />$10 Million prize purse<b...
Competing Teams<br />ARCA<br />Space Transport<br />Rocketplane<br />Canadian Arrow<br />DaVinci Project<br />Pablo DeLeon...
… &gt;6 Billion Media Impressions Worth in Excess of $120 Million<br />
Hallmarks of an Incentive Competition<br /><ul><li> Highly leveraged: typically 10 – 40x
Efficient: only pays the winner
 Sparks new industrydevelopment</li></ul>$1B+<br />Industry start<br />$100M<br />Teams’ spend<br />$10M - Purse<br />Ansa...
Four X PRIZE Groups<br />FPO<br />Life Sciences<br />Exploration<br />Energy &<br />Environment<br />Education &<br />Glob...
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Peter Diamandis i2i Presentation 2009

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Peter Diamandis i2i Presentation 2009

  1. 1. “The best way to predict the future is <br />to create it yourself.”<br />incentive2innovate – June’09<br />Peter H. Diamandis, MD<br />Chairman/CEO, X PRIZE Foundation<br />310-741 4880<br />Revolution Through Competition<br />
  2. 2. 1927 Orteig Prize: New York - Paris<br />“First team to fly non-stop between NY and Paris”<br /><ul><li>Orteig puts up $25,000
  3. 3. 9 Teams spend $400,000
  4. 4. Lindbergh, 25 year old underdog wins!
  5. 5. Results:</li></ul>Top media story of the century<br />Transformed public’s view of Aviation<br />6,000  180,000 passengers (18 mths)<br />
  6. 6. Ansari X PRIZE<br />“First team to fly 3 people to space, twice within 2 weeks”<br />Rules:<br />$10 Million prize purse<br />Privately funded teams<br />3 person reusable spaceship<br />100 km altitude<br />Two flights within 2 weeks <br />
  7. 7. Competing Teams<br />ARCA<br />Space Transport<br />Rocketplane<br />Canadian Arrow<br />DaVinci Project<br />Pablo DeLeon<br />Scaled Composites<br />26 Teams, 7 Nations<br />$100 million spent<br />StarChaser<br />Armadillo Aerospace<br />Multiple approaches tried by many teams <br />
  8. 8. … &gt;6 Billion Media Impressions Worth in Excess of $120 Million<br />
  9. 9.
  10. 10. Hallmarks of an Incentive Competition<br /><ul><li> Highly leveraged: typically 10 – 40x
  11. 11. Efficient: only pays the winner
  12. 12. Sparks new industrydevelopment</li></ul>$1B+<br />Industry start<br />$100M<br />Teams’ spend<br />$10M - Purse<br />Ansari Family<br />$2.5M - Start-up<br />St. Louis<br />
  13. 13. Four X PRIZE Groups<br />FPO<br />Life Sciences<br />Exploration<br />Energy &<br />Environment<br />Education &<br />Global Development<br />
  14. 14. Active X PRIZES<br />
  15. 15. Incentive Prize (X PRIZE) Design Attributes<br /><ul><li> Target area that is ‘stuck’; market failure
  16. 16. Clear, objective & simple rules
  17. 17. Hard but attainable
  18. 18. Can be won in 3 - 8 years
  19. 19. Define a problem, not a solution
  20. 20. Proper size/type of incentive
  21. 21. Multiple purses & bonuses</li></li></ul><li>Incentive Prize (X PRIZE) Design Attributes<br /><ul><li> Launching above (Super-Credibility)
  22. 22. Persistent media exposure
  23. 23. Assure there is a “back end business”
  24. 24. Open to teams worldwide
  25. 25. Telegenic
  26. 26. Use of deadlines to drive action
  27. 27. Ownership of IP & Media Rights</li></li></ul><li>Incentive Prize (X PRIZE) Results<br /><ul><li>Attracting new capital
  28. 28. Attract maverick doers
  29. 29. Crowd sourcing genius
  30. 30. Overcoming existing constraints (psychological & regulatory)
  31. 31. Creating new regulatory framework
  32. 32. Increased public awareness - educate & excite the public</li></li></ul><li>Incentive Prize (X PRIZE) Results<br /><ul><li>Make heroes of the teams
  33. 33. Create global media events
  34. 34. Encourage taking intelligent risk
  35. 35. Encourage cross disciplinary solutions
  36. 36. Launch an industry
  37. 37. Driving real-world deployment
  38. 38. Change the paradigm</li>

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