People can’t resist a prize, especially when there’s money to go with a medal, and for hundreds of years that basic human urge has been used to push humanity forward. When you focus minds and money towards a simple target, incredible things can happen - from the clock that won the Longitude prize money in the 1700s to the spacecraft that won the XPRIZE in 2004. Are there any problems that a big enough prize cannot solve?

Producer & Reporter: William Kremer

Photo Caption: Pilot Mike Melvill standing on Space Ship One, which went on to win the Ansari XPRIZE

Correction: Since our interview with Marcus Shingles was recorded, he has stepped down as CEO of XPrize