Elon Musk Just Announced a $100 Million Prize Competition — Here's How to Enter
On Thursday, Elon Musk announced a competition to combat climate change.
On Thursday, SpaceX and Tesla CEO Elon Musk joined XPrize's chairman to announce a $100 million Carbon Removal competition.
The contest aims to incentivize innovators across the world to come up with a large-scale project that "can pull carbon dioxide directly from the atmosphere or oceans, and sequester it durably and sustainably," according to the competition's website. The announcement of the four-year competition was particularly timely, as Thursday was also Earth Day.
In order to win, teams must prove that their project can remove at least 1,000 tonnes of carbon dioxide per year, model their costs "at a scale of 1 million tonnes per year" and demonstrate a way to "achieving a scale of gigatonnes per year in future." Funded by Musk and the Musk Foundation, the competition says any carbon negative solution is eligible.
Within the first year of the contest, judges will review submissions and award 15 prizes of up to $1 million each. After the four years, the judges will select one grand prize winner, who will be paid $50 million. Three runners-up will also be selected and receive $30 million each.
To enter, click here.
Entrepreneur Editors' Picks
-
How an Encounter With the 'Armpit of Destiny' Helped the Founder of Grubhub Take His Business From His Apartment to a $2 Billion IPO
-
You Can Train Your Brain to React to Stressful Situations Better. Here's the 3-Step Process.
-
How to Stay Organized and Productive While Working From Different Locations
-
A Disastrous Valentine's Day Inspired This Founder to Launch Her Own Floral Brand. It Became a Celebrity Magnet With Retail Revenue Up 450% Since 2019.
-
What Is Your Dream Job? Ask Yourself These 4 Questions to Find Out.
-
This Is the Crazy Process This Juice Franchise Went Through to Get USDA-Certified Organic. But It Sure Has Paid Off.
-
No One Would Rent Me a Café in Trendy NYC Neighborhoods, So I Tried Something Risky. Now I Have 3 Coffee Shops.
