Entrepreneurs, engineers and scientists worldwide are being offered $1 million for developing a better way of cleaning up crude oil spills from oceans. The competition is being organized by the X Prize Foundation, and it will run for one year. Wendy Schmidt, wife of Google CEO Eric Schmidt, personally put up $1.4 million for the prize purse. The winner will get 41 million; the runner-up will get $300,000; and the second runner-up the remaining $100,000. The challenge, known as the “Wendy Schmidt Oil Cleanup X Challenge,” is the latest in a series of so-called X Challenges.
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X Prize Foundation Seeks Oil Cleanup Breakthrough
Posted by: Richard Adhikari August 2, 2010 06:00 AMEntrepreneurs, engineers and scientists worldwide are being offered $1 million for developing a better way of cleaning up crude oil spills from oceans. The competition is being organized by the X Prize Foundation, and it will run for one year. Wendy Schmidt, wife of Google CEO Eric Schmidt, personally put up $1.4 million for the prize purse. The winner will get 41 million; the runner-up will get $300,000; and the second runner-up the remaining $100,000. The challenge, known as the “Wendy Schmidt Oil Cleanup X Challenge,” is the latest in a series of so-called X Challenges.