XPRIZE Foundation

XPRIZE Foundation operates in industries of public education and innovation management in order to encourage new developments. The company was founded by Peter Diamandis in 1995, in Culver City, California, United States.

The company has overseen and operated seventeen competitions in the interests of such topics as space, oceans, learning, health, energy, environments, transportation, safety, and robotics. XPRIZE has awarded over $140 million in prizes since launching, and awarded their denominations to industry-changing technologies. The first prize the company awarded was given at the value of $10 million.

XPRIZE holds their competitions and awards projects to meet their mission of articulating a vision of a positive future, establish and incentivize competition in markets, and to accelerate breakthroughs.

In response to the pandemic outbreak of COVID-19, the XPRIZE Foundation has launched a $1 million challenge to make a new form of personal protective equipment, namely a face mask, in order to help prevent the spread of COVID-19. The challenge is so-named the Next-Gen Mask Challenge, and is meant to help make wearing a mask more comfortable, functional, accessible, and fashionable.