Peter Diamandis, the foundation's chairman, believes the old guard is no longer able to innovate.
But this is Peter Diamandis, the fast-talking, hand-chopping impresario of the tech and space worlds.
"For years, Qualcomm has been transforming lives by connecting people through incredible technologies, " said Dr. Peter Diamandis, Chairman and CEO of the X PRIZE Foundation.
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Founded in 1994, the Los Angeles-based foundation is currently mulling 80 different prize concepts and is expanding internationally by launching X Prize India, says Chief Executive Peter Diamandis.
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Tuesday's announcement comes nine months after the unveiling of a similar project by Planetary Resources, a company led by space tourism pioneers Eric Anderson and Peter Diamandis.
"Space is not just in the realm of government anymore, " says Peter Diamandis, founder and chairman of the X Prize Foundation and chief executive of Zero Gravity Corp.
Exponential advances in technology now make it possible, said co-founder and co-chairman Peter Diamandis, for small companies to accomplish what once required the backing of governments or large corporations.
Planetary Resources co-founder and co-chairman Peter Diamandis chatted with us, telling us why the company made the unusual decision to put its first orbital optical telescope up for grabs on Kickstarter.
That single prize (which didn't come close to covering the team's expenses) ushered in a new era of private space travel and, for XPRIZE founder Peter Diamandis, demonstrated the power of competition.
In his New York Times bestseller, Abundance, XPrize and Singularity University founder Peter Diamandis tells the story of how aluminum went from a rare metal to something we wrap our food in.
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The company, known as Planetary Resources, is also backed by space tourism pioneer Eric Anderson, X-Prize founder Peter Diamandis, Ross Perot Jr, son of the former US presidential candidate, and veteran astronaut Tom Jones.
Peter Diamandis believes that Silicon Valley technologies will continue a path of billion dollar valuations overnight while traditional multinational corporations, relics of the industrial age, will continue to go out of business over the next 2-10 years.
The effort, which is being put together by Peter Diamandis, chairman and CEO of the X Prize Foundation, and Granger Whitelaw, a venture capitalist and partner in two winning Indianapolis 500 racing teams, is developing rocket-powered aircraft with Mojave, Calif.
While analysts are cutting forecasts for PCs and slashing those for ultrabooks, global mobile phone penetration continues to grow and is expected to reach 70% in 2013, up from 2% in 2000 and 28% in 2009 according to data published in Abundance by Steven Kotler and Peter Diamandis.
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