XPRIZE launches $5 million rapid COVID testing competition – TechCrunch

XPRIZE is popping its tried and examined mannequin of providing money prizes to spur innovation in crucial areas to the problem of COVID-19 testing. the nonprofit has created a $5 million prize pool for a Rapid COVID Testing competition, in partnership with a company referred to as OpenCovidScreen shaped by scientists, researchers and trade leaders to drive open scientific collaboration on the subject.

The competitors requires individuals to develop low-cost, fast outcome testing options that may complement these already in existence in an effort to massively scale testing capabilities and pave the way in which for protected reopening methods. It’s open to potential options throughout a lot of classes, together with at-home assessments, these performed at point-of-care, distributed lab testing, and eventually high-throughput lab options.

Judging for the last word prize awards will give attention to their innovation, their efficiency, how rapidly they’ll delver outcomes (with the max allowable turnaround time capped at 12 hours), how scalable they’re and the way simple to make use of and cost-effective they are often (with a price ceiling of $15 per take a look at). The XPRIZE group can be encouraging individuals to attempt a variety of various applied sciences of their proposed options in an effort to diversify and guarantee sustainability of the availability chain.

With a view to participate, groups must joint the competition by August 31, 2020. The competitors goals to announce grand prize winners by the tip of January, and the plan is to award $1 million every to 5 groups.

Following the competitors, individuals may profit from a $50 million fund established by the ‘COVID Apollo Venture’ to develop, deploy and scale their answer to precise manufacturing and distribution.

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