The X Prize Foundation is a nonprofit organization that designs and manages public competitions to encourage technological innovation. Founded in 1995, it aims to solve some of the world's most pressing challenges by incentivizing teams to develop breakthrough solutions. One of its most famous competitions was the Ansari X Prize, which awarded $10 million to the first privately funded team to send a spacecraft into space twice within two weeks. The foundation continues to launch new prizes in various fields, including health, energy, and education, to stimulate advancements that can benefit humanity.