UK telecomms giant gives helping hand to innovation

BT has given £3.5 million in operating funds to the X Prize Foundation, which organises science and technology competitions with prizes of more than £5 million.

X Prize launched the £5 million Ansari competition for suborbital spaceflight in 2004 and has three active research contests in the fields of preventive medicine, fuel-efficient vehicles and lunar rovers.

This partnership is the latest step in BT's long legacy of innovation.

Francois Barrault

Chief Executive Officer

BT Global Services

Through BT's investment, the foundation will be able to expand its activities and run competitions across the globe to accelerate innovation in areas such as disease, poverty and energy efficiency.

Dr Peter H Diamandis, chairman and chief executive officer of X Prize, hailed BT as a "leader in technological innovation and collaboration" and suggested its involvement would allow his organisation to increase its impact.

The telecoms company's active pursuit of research was also noted, with BT employing 3,500 research staff at Adastral Park, England, as well as teams based in Malaysia and China.

Francois Barrault, chief executive officer of BT Global Services, added: "This partnership is the latest step in BT's long legacy of innovation.

"For more than 100 years, BT has been helping customers to use communications and collaboration to make the world a smaller, and better, place.

The X Prize Foundation claims it intends to launch ten new prizes over the next five years, covering areas such as life sciences, global entrepreneurship and energy and environment.