X Prize Innovation Partnership Program gets official, lets businesses bankroll breakthroughs

X Prize is identified for doling out large bucks for tech leaps like Spaceship 1 and now the basis is teaming with Singularity University and Deloitte Consulting to consider to bring more money-bearing firms on board. To that end, they designed the Innovation Partnership System (IPP) to get sector collectively with inventors, scientists and other developers twice a year with the aim of funding new competitions. The first meeting took spot last week and incorporated heavyweights like Google, Sprint Nextel and Qualcomm, who tossed around tips like crowdsourcing, sensor tech and 3D printing. In exchange for their largess — a seat at the table begins at $ 250,000 — companies get in on the ground floor to breakthrough tech and the fortunes it can bring. IPP cautioned that the 4 day occasion “is not a volleyball picnic or a plush retreat,” so if you had visions of shirtless CEOs, Best Gun-style, you can breathe a sigh of relief.

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