Chairman and CEO of the X PRIZE Foundation, Peter Diamandis, speaks about our newly announced Google Lunar X PRIZE, the international competition in which privately funded teams will build robotic explorers and race them to the Moon for a $20M Grand Prize. This revolutionary challenge will incentivize innovation in space exploration, and has the potential to inspire parallel discovery across many areas of technology for the benefit of all mankind. The X PRIZE Foundation is an educational nonprofit whose mission is to create radical scientific breakthroughs for the good of humanity. The Google Lunar X PRIZE is the third prize the Foundation has announced since its inception in 1995. This event took place September 19, 2007 at Google Headquarters in Mountain View, CA