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:
“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 Red Cross in its nature, it aims and purposes, and consequently, its methods, is unlike any other organization in the country. It is an organization of physical action, of instantaneous action, at the spur of the moment; it cannot await the ordinary deliberation of organized bodies if it would be of use to suffering humanity, ... [ellipsis in original] it has by its nature a field of its own.”
—Clara Barton (1821–1912)
“Prostitution is the most hideous of the afflictions produced by the unequal distribution of the world’s goods; this infamy stigmatizes the human species and bears witness against the social organization far more than does crime.”
—Flora Tristan (1803–1844)