peter diamandis i2i presentation 2009

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incentive2innovate – June’09 Peter H. Diamandis, MD Chairman/CEO, X PRIZE Foundatio 310-741 4880 Revolution Through Competition “The best way to predict the future is to create it yourself.”

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Page 1: Peter Diamandis i2i Presentation 2009

incentive2innovate – June’09

Peter H. Diamandis, MDChairman/CEO, X PRIZE Foundation310-741 4880Revolution Through

Competition

“The best way to predict the future is

to create it yourself.”

Page 2: Peter Diamandis i2i Presentation 2009

1927 Orteig Prize: New York - Paris“First team to fly non-stop between

NY and Paris”• Orteig puts up $25,000

• 9 Teams spend $400,000

• Lindbergh, 25 year old underdog wins!

• Results:

1. Top media story of the century

2. Transformed public’s view of Aviation

3. 6,000 180,000 passengers (18 mths)

Page 3: Peter Diamandis i2i Presentation 2009

Ansari X PRIZE“First team to fly 3 people to space, twice within 2 weeks”

Rules:• $10 Million prize purse• Privately funded teams• 3 person reusable spaceship• 100 km altitude• Two flights within 2 weeks

Page 4: Peter Diamandis i2i Presentation 2009

Competing Teams

ARCA Space Transport

Pablo DeLeon

StarChaser

Scaled CompositesDaVinci Project Canadian Arrow

Rocketplane

Armadillo Aerospace

26 Teams, 7 Nations$100 million spent

Multiple approaches tried by many teams

Page 5: Peter Diamandis i2i Presentation 2009

… >6 Billion Media Impressions Worth in Excess of $120 Million

Page 6: Peter Diamandis i2i Presentation 2009
Page 7: Peter Diamandis i2i Presentation 2009

• Highly leveraged: typically 10 – 40x• Efficient: only pays the winner• Sparks new industry development

$2.5M - Start-upSt. Louis

$1B+Industry start

$100MTeams’ spend$10M - Purse

Ansari Family

Hallmarks of an Incentive Competition

Page 8: Peter Diamandis i2i Presentation 2009

FPO

Four X PRIZE Groups

Life Sciences Exploration

Energy &Environment

Education &Global Development

Page 9: Peter Diamandis i2i Presentation 2009

Active X PRIZES

Page 10: Peter Diamandis i2i Presentation 2009

Target area that is ‘stuck’; market failure Clear, objective & simple rules Hard but attainable Can be won in 3 - 8 years Define a problem, not a solution Proper size/type of incentive Multiple purses & bonuses

Incentive Prize (X PRIZE) Design Attributes

Page 11: Peter Diamandis i2i Presentation 2009

Launching above (Super-Credibility) Persistent media exposure Assure there is a “back end business” Open to teams worldwide Telegenic Use of deadlines to drive action Ownership of IP & Media Rights

Incentive Prize (X PRIZE) Design Attributes

Page 12: Peter Diamandis i2i Presentation 2009

Attracting new capital Attract maverick doers Crowd sourcing genius Overcoming existing constraints

(psychological & regulatory) Creating new regulatory framework Increased public awareness -

educate & excite the public

Incentive Prize (X PRIZE) Results

Page 13: Peter Diamandis i2i Presentation 2009

Make heroes of the teams Create global media events Encourage taking intelligent risk Encourage cross disciplinary solutions Launch an industry Driving real-world deployment Change the paradigm

Incentive Prize (X PRIZE) Results