The $300 Million X-Prize

I agree with Business Week's Bruce Nussbaum's assessment of John McCain's announcement of a $300 million contest for a better car battery.  Nussbaum lauds the idea and writes, "There are many ways to incentivize innovation. VC money. Government money. Corporate R&D. Labs (government and private). Serious prize money and well designed contests reward both crowd-sourcing and individual genius kinds of creation."

Nussbaum's only complaint is that "$300 million is probably too much money. It implies government bigness and huge scale. The X Prize Foundation gives out ten million bucks and that seems incentive enough."

  

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