Congressman Dan Lipinski (D-IL) , Vice Chairman of the House Science and Technology Committee, and Congressman (R-MO) Todd Akin, have introduced H.R. 6661, the Nanotechnology Innovation and Prize Competition Act, which establishes an X-Prize competition for nanotechnology.

H.R. 6661 would stimulate public-private partnership and focus investment towards key goals. The bill identifies five key categories – green nanotechnology, alternative energy, human health, nanoelectronics, and commercialization of consumer products, – and establishes a board comprised of government and private sector experts to select criteria for prize competitions.

The original X-Prize, established in 1996, established a $10 million prize fund for the first team to make civilian space flight a reality. It was successfully claimed eight years later. During that time, the X-Prize's $10 million award stimulated over $100 million in research and development investment by the competing teams.  Read More...