Organization
With the Ansari X Prize, the X Prize Foundation (based in Santa Monica, CA) established a philanthropic model in which offering a prize for achieving a specific goal stimulates entrepreneurial investment that produces a 10 times or greater return on the prize purse and at least 100 times in follow-on investment and social benefit. The Foundation has developed into a non-profit prize institute that conceives, designs and manages public competitions for the benefit of humanity.
Read more about this topic: X Prize Cup
Famous quotes containing the word organization:
“The methods by which a trade union can alone act, are necessarily destructive; its organization is necessarily tyrannical.”
—Henry George (1839–1897)
“In any great organization it is far, far safer to be wrong with the majority than to be right alone.”
—John Kenneth Galbraith (b. 1908)
“The only thing that’s been a worse flop than the organization of non-violence has been the organization of violence.”
—Joan Baez (b. 1941)