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The X Prize foundation, best known for launching the private spaceflight industry, has launched a $1.4 million oil clean-up challenge.
The foundation, which states that its core aim is "to bring about radical breakthroughs for the benefit of humanity" announced its latest prize at a press conference in Washington DC.
This is its sixth "major incentive competition".
Research teams can register for the competition until April 2011.
The challenge has been called the Wendy Schmidt Oil Cleanup X Challenge, after president of the Schmidt Family Foundation, who provided the funding for the prize.
The X Prize foundation said: "The goal of the... challenge is to inspire entrepreneurs, engineers, and scientists worldwide to develop innovative, rapidly deployable, and highly efficient methods of capturing crude oil from the ocean surface."
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Why have they waited this long? There have been so many oil spill disasters. Google "oil spills" and you will see just how many. Kind of 'cart before the horse' mentality, IMO.
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