Chairman of X Prize Foundation to Testify
WASHINGTON, D.C. - On Thursday, July 15, 2004, the Subcommittee on Space and Aeronautics will hold a hearing to examine whether and how federally sponsored prizes could be an effective tool to spur innovation and encourage commercial participation in the development of advanced space technologies.
NASA has recently begun a small prize program, but has proposed that Congress provide it with authority to offer larger prizes.
Two events last month raised public awareness of the potential power of prizes as a catalyst to achieve remarkable goals: first, the first privately funded manned spacecraft successfully performed a flight in preparation to compete for the X Prize, a $10 million prize raised through private donations and administered by a private organization; and second, thePresident's Commission on Implementation of United States Exploration Policy (also known as the Aldridge Commission for its chairman, the former Undersecretary of the Air Force Pete Aldridge) issued its report recommending that the National Aeronautics and Space Administration offer similar prizes.
Thursday, July 15, 2004
Subcommittee on Space and Aeronautics- Hearing
NASA Contests and Prizes
10:00 A.M. - 12:00 P.M.
2318 Rayburn House Office Building (WEBCAST)