BT and the X PRIZE Foundation

BT and the X PRIZE Foundation Team Up to Inspire World-Changing Innovations - This video announcement is on telecom company BT teaming up with the Foundation. Here's more in press release form. An excerpt:

BT Global Services, which employs more than 32,000 people worldwide, is providing $7 million in operating funds to the Foundation over the course of a three-year partnership. These funds will allow the X PRIZE Foundation to focus on developing new prizes to solve some of the greatest challenges of our time.

... With the recent addition of Michael Boustridge, President of BT Americas, to the X PRIZE Foundation Board of Trustees, BT will have a voice in shaping future X PRIZEs.

Update (evening): The XPF folks point to an article in the Financial Times: Science prize fund wins $7m to take creative drive global.

Under an agreement to be announced today, BT will provide the non-profit foundation with $7m (€4.5m, £3.6m) in operating funds that will cover the costs of developing new X Prizes "to solve some of the greatest challenges of our time", particularly in energy, the environment and life sciences.

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The next prizes are likely to focus on cancer, renewable energy and oceanography.