The ANSARI X PRIZE is a cash award to be given out to the first non-governmental team which builds a vehicle capable of launching three people to a height of 62 miles , and doing so twice within a two week period in the same vehicle. The award amount is $10 million dollars.

There are over 20 teams competing in this effort.

The idea for the X Prize was drawn from aviation prizes of the early 20th century, specifically the Orteig prize which was won by Charles Lindbergh for crossing the Atlantic nonstop.

It is hoped that the technology developed as a result of the X Prize will find its way into common usage for such services as space tourism, package delivery, and satellite launching.