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Do you think these prize amounts (piddly in comparison to the $10 million X Prize) will be sufficient to spur innovators?Space elevators - a futuristic idea in which space is accessed via long tethers with the power needed being transmitted on beams of light - are the target of two new cash prizes, sponsored by NASA.
The prizes, announced on Wednesday evening, are the first in a series called "Centennial Challenges", modelled on the $10 million X Prize recently awarded to the first privately developed spacecraft. Winning teams will receive $50,000 in 2005 for either building the strongest strand of material or for using light to power a wireless robot up a cable.
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In 2006, the challenge will include building the source of power, as well, and the top three teams will again receive $100,000, $40,000 and $10,000, respectively.
NASA is set to announce more centennial challenges in the coming weeks.