X Prize aims to challenge inventors into creating technologies that could benefit mankind, but it can't design competitions for every problem out there. That's where its spin-off company called HeroX comes in. HeroX is a platform similar to Kickstarter, where anyone can post their own competition. Those who think they have the best solution can then submit their entries to win a cash prize. While projects with sponsors are welcome, the website can also serve as a crowdfunding platform for those that don't have benefactors. People can donate to the prize pot, which will be awarded to the winner(s), though note that the company takes a cut, as it's not a non-profit org like the X Prize Foundation itself.
Although the foundation has just officially launched the platform, the company itself has been around since 2013 and has been accepting projects since last year. It even has a few active competitions with a $1 million cash prize, including one that aims to reduce gun violence through smart tech for firearms. Whether the platform does give rise to new ideas that can change the world remains to be seen. HeroX CEO Christian Cotichini believes his company has huge potential, though, telling Wired that "Breakthroughs often come from the amateur, the outsider. It very rarely comes from the experts."
Source: HeroX, Twitter, Facebook
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