Google to host fundraising launch for X Prize

Google, Inc. will host the launch of a fundraising event for the “X prize” – a new philanthropic organization whose mission is to create breakthroughs for the benefit of humanity based on competition. The March 3 event at Google’s Mountain View headquarters will kick off a $50 million drive and be hosted by Google founder and X Prize board member Larry Page. The benefit is intended to “encourage innovations in areas such as fuel consumption, water, medicine and more” said X Prize president Tom Vander Ark.