Innovation Update Day: XPRIZE’s Christopher Frangione

IMG_1396Christopher Frangione is the Vice President of Prize Development at XPRIZE.  At XPRIZE, it is their belief that with a little incentive combined with competition and innovation, anyone can cause a change in the world.  XPRIZE has developed several unique opportunities that allow anyone with little to no experience to get creative.  It does not matter what kind of background you might have XPRIZE competition actually help to make a difference.

In their most recent competition, teams were asked to build a robot that could get to the moon and then race each other.  Overall, they had 26 teams from 7 different countries participating in the competition.  As Frangione said, “It’s not about the money.”  Instead, he believes it’s about developing skills for launching their own business.  Teams will gain competition resources and connections with innovators from all over.  They also continue to get media coverage from all over the world that will help them well beyond the competition.

After completing several challenges, XPRIZE has learned that people want to help others and even though they do win a prize in the end that’s not the only reason they do it.   He encouraged the audience that no matter what industry they are in, incentives will always work.  That does not necessarily mean that it has to be money.  In another one of their competitions, XPRIZE is developing a device that you can hold in the palm of your hand that helps monitor your health conditions.  To see more about their latest and ongoing competitions visit www.xprize.org.