High Quality Content by WIKIPEDIA articles! The X Prize Foundation is a non-profit prize institute that designs and manages public competitions intended to encourage technological development that could benefit mankind. The X Prize Foundation mission is to bring about "radical breakthroughs for the benefit of humanity" through incentivized competition. It aims to foster high-profile competitions that motivate individuals, companies and organizations across all disciplines to develop innovative ideas and technologies that help solve the grand challenges that restrict humanity's progress. The most high-profile X Prize to date was the Ansari X Prize relating to spacecraft development awarded in 2004. This prize was intended to inspire research and development into technology for space exploration.