What’s your Crazy Green Idea (for $25,000)?

Excellent! I see that the X Prize Foundation are offering a prize of $25,000 for “Your Crazy Green Idea”!

From the site:

The X PRIZE Foundation and Prize Capital, LLC are offering $25,000 for the best video proposing a new Energy and Environment X PRIZE. Contestants need to submit a 2-minute video via Entrants will be narrowed down to 3 finalists by the X PRIZE Foundation. Once the 3 finalists are identified, users will vote to determine the winner. The winner will be announced on in December 2008.

The winning video must answer the following three questions:
1. What is the specific prize idea?
2. What is the Grand Challenge or world-wide problem that you are trying to solve?
3. How will this prize benefit humanity?

The fact that this prize is open to anyone and that you use YouTube to submit your ideas is a spectacularly good idea – creating online buzz, crowdsourcing the ideas and being totally transparent about it. X Prize ftw!

As of this writing 30 videos have been submitted. Check them out and then submit your own! But hurry, the deadline for submissions is Oct 31st.

The X Prize Foundation is an educational nonprofit who came to prominence in 2004 when the Foundation awarded the Burt Rutan-led team, backed by Microsoft co-founder Paul Allen, $10 million for building and flying the world’s first private spaceship.

The X Prize foundation are also behind the Progressive Auto X Prize competition – a competition with a $10m prize to develop a radically fuel efficient car.