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:
“Since wars begin in the minds of men, it is in the minds of men that the defences of peace must be constructed.”
—Constitution of the United Nations Educational, Scientific, and Cultural Organization (UNESCO)
“It is essential that there should be organization of labor. This is an era of organization. Capital organizes and therefore labor must organize.”
—Theodore Roosevelt (1858–1919)
“The village had institutionalized all human functions in forms of low intensity.... Participation was high and organization was low. This is the formula for stability.”
—Marshall McLuhan (1911–1980)