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XPRIZE Launches $ 5 Million TechCrunch for COVID Rapid Tests

XPRISE switches its proven model of offering cash prizes to drive innovation in critical areas to the challenge of the COVID-19 test. The nonprofit, in collaboration with an organization called OpenCovidScreen, founded by scientists, researchers, and industry leaders, has created a $ 5 million prize pool for a rapid COVID test competition to promote open scientific collaboration on the subject.

The competition asks the participants to develop cost-effective solutions for quick results tests that can complement the existing ones in order to massively scale the test functions and pave the way for safe reopening strategies. It is open to potential solutions in a number of categories, including home testing, on-site testing, distributed laboratory testing, and finally, high throughput laboratory solutions.

The ultimate awards ceremony focuses on their innovation, their performance, how quickly they can deliver results (with the maximum allowable processing time limited to 1

2 hours), how scalable they are, and how easy and inexpensive they can be (with a cost cap of $ 15 per test). The XPRIZE organization also encourages people to try a number of different technologies in their proposed solutions to diversify and ensure the sustainability of the supply chain.

To participate, the teams must join the competition by August 31, 2020. The competition is expected to announce the winners of the main prize by the end of January. It is planned to award $ 1 million to five teams each.

After the competition, participants can also benefit from a $ 50 million fund set up by the COVID Apollo project to develop, deploy and scale their solution for actual production and distribution.

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