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Google sets $30m prize for moon landing

space-tourist company.

More recently, the X Prize has launched the $10m Archon X Prize for Genomics, one of the largest such medical prizes. The challenge calls on private companies to create new technology that can map 100 human genomes in 10 days -- a breakthrough that could lead to a new era in personalised preventative medicine. The foundation also has an automotive challenge, calling on inventors to build an energy-efficient vehicle that can drive 160km on 4l of petrol.

Separately, Google has backed contests such as the California Clean Tech Open, which will award six fledgling green businesses with start-up starter kits worth $100,000 in cash, office space and professional services.

The Lunar Prize will be broken into segments: a $20m grand prize, a $5m second prize and another $5m in bonuses. To win the $20m, a team must land its rover on the moon by December 2012. Thereafter, the prize drops to $15m until December 2014, when the contest will end.

To win second prize, a team must land its rover on the moon and send data back to Earth, but it's not required to travel 500m. A team can collect bonus money for travelling further than that distance.

X Prize officials said that they expect to see the first teams attempt the challenge within the next four to six years. Teams must be at least 90 per cent privately funded in order to compete.

In an answer to a question about whether X Prize is working with NASA's efforts to go to the moon, Diamandis said that he hopes to start a conversation with the space agency about that. "We hope NASA will be a customer of the winning rover," Diamandis said.

Google and X Prize have teamed with several partners to support the contest, including Space Exploration Technologies (SpaceX), run by PayPal founder Elon Musk. SpaceX will be the preferred launch provider for competing teams. Google and X Prize also have partnered with the Allen Telescope Array, operated by the SETI Institute, to enable the communications downlink from the moon.

Musk, who also spoke at the event, echoed Page's sentiment about inspiring people around the world. "This is the greatest thing we can do for science, engineering and math," he said.