X PRIZE Foundation and Shell Convene "Visioneers" to Explore

X PRIZE Foundation and Shell Convene "Visioneers" to Explore
Innovation to Help Address China's Energy Challenge 
Key Influencers and Social Innovators Focused on Providing Creative,
Yet Actionable Solutions to Bring About Breakthrough Technologies in
China's Energy Sector 
LOS ANGELES, CA -- (Marketwire) -- 10/24/12 --  The X PRIZE
Foundation is partnering with Shell, an innovation and technology
leader in the energy space, to explore potential opportunities in
China for developing incentivized competitions to help drive
innovations in the energy sector. The two organizations convened in
Beijing earlier this month for a Visioneering session, an engaging
and collaborative workshop where 35 leading innovators from academia,
private and state-owned energy companies, environmental
non-governmental organizations and others designed and pitched
innovative prize concepts that focused on making energy sources, such
as electricity generation fuels and transportation fuels, sustainable
for the future. 
During Visioneering, Shell introduced open innovation as a tool that
can assist companies in accelerating progress in constantly evolving
industries. This is exemplified by the company's global GameChanger
program, which invests in people around the world, whether in or
outside the company, to help advance breakthrough ideas from creation
to proof of concept. Incentivized innovation, a model that is
synonymous with the X PRIZE Foundation, takes open innovation one
step beyond and provides a monetary award or other incentive to
accomplish major breakthroughs. X PRIZE Labs also were discussed as a
way to institutionalize open and incentivized innovation in China. 
"There is a natural synergy between the X PRIZE Foundation and Shell
because we have both embraced open innovation by leveraging local and
global resources to help identify much-needed radical breakthroughs
in the energy sector," said Christopher Frangione, Senior Director,
Energy and Environment Prize Development, X PRIZE Foundation.
"Incentivized competitions help motivate individuals, companies and
organizations across all disciplines to pioneer ideas and
technologies that push the limit of what's currently possible as we
work to help overcome one of China's most pressing challenges." 
Throughout the one-day workshop, the discussion focused on three key
areas: addressing ways to make China's traditional fossil-fuel-based
energy sources more efficient and sustainable; making mainstream
renewables such as wind and solar more efficient; and identifying new
sustainable energy resources. In small groups, the participants
identified specific opportunities that are ripe for energy innovation
within these key areas. Those opportunities were then discussed,
debated and prioritized as potential prize concepts. 
Open and incentivized innovation can help leverage existing research
and development dollars by hosting a prize competition with a clear
goal and allowing teams to compete to achieve that goal while
securing their own financial capital to do so. "I believe the future
of innovation is open with collaboration across the boundaries of
companies, countries and disciplines," said Thijs Jurgens, Vice
President Innovation, Shell Global Solutions International. 
The top prize concepts resulting from the Visioneering session
included ones to help consumers better understand their own energy
consumption to make more educated choices, to make zero-energy homes,
to help China to improve local air quality and to make traditional
energy sources free of carbon dioxide emissions. The concepts will be
investigated in more detail in the coming months.  
About X PRIZE Labs
 The goal of X PRIZE Labs is to engage the next
generation of leading thinkers in recognizing areas that are ripe for
breakthrough innovation. Interdisciplinary students explore the
strengths of prize philanthropy with academic rigor, using the
excitement of the X PRIZE model as an anchor for engaging them in the
world's biggest challenges. Through the X PRIZE Labs, graduate
students participate in a semester-long lab researching and
dissecting the prize philanthropy model.  
X PRIZE Labs currently has teaching and research activities at
Massachusetts Institute of Technology, the University of Washington,
and the University of Southern California. The labs provide a
platform to educate university students and faculty around the
emerging field of prize theory.  
About the Shell/X PRIZE Foundation Partnership
 Shell is the
exclusive presenting sponsor of the X PRIZE Foundation Exploration
Prize Group, which aims to foster innovation through exploration to
improve life on Earth. As part of a three-year, $9 million
sponsorship, the X PRIZE Foundation will address these objectives
through its incentive prize model to stimulate innovation,
competition and collaboration at the frontiers of space, Earth, and
its oceans. To learn more, please visit www.xprize.org. 
About Shell
 Royal Dutch Shell plc is a global group of energy and
petrochemical companies with approximately 90,000 employees in more
than 80 countries. Shell delivers a diverse range of energy solutions
and petrochemicals to customers worldwide. These include producing,
transporting and trading oil and gas, marketing natural gas,
producing and selling transport fuels, generating electricity and
providing energy-efficiency advice. Shell also produces and sells
petrochemical building blocks to industrial customers globally and is
investing in making renewable and lower-carbon energy sources
competitive for large-scale use. 
To learn more about Shell & Innovation, download the INSIDE ENERGY
app for iPad or visit www.shell.com/innovation 
About X PRIZE Foundation
 Founded in 1995, the X PRIZE Foundation, a
501(c)(3) nonprofit, is the leading organization solving the world's
Grand Challenges by creating and managing large-scale, high-profile,
incentivized prize competitions that stimulate investment in research
and development worth far more than the prize itself. The
organization motivates and inspires brilliant innovators from all
disciplines to leverage their intellectual and financial capital for
the benefit of humanity. The X PRIZE Foundation conducts competitions
in five Prize Groups: Education, Exploration, Energy & Environment,
Global Development and Life Sciences. Active prizes include the $30
million Google Lunar X PRIZE, the $10 million Archon Genomics X PRIZE
presented by Express Scripts, the $10 million Qualcomm Tricorder X
PRIZE and the $2.25 million Nokia Sensing X CHALLENGE. For more
information, go to www.xprize.org.  
Media Contacts:
For X PRIZE Foundation:
Alan Zack 
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