XPRIZE Foundation - Annual report 2021

Could you please introduce yourself and tell us a little bit about XPRIZE and the problem it’s trying to solve?

I am currently the Executive Director and General Manager of XPRIZE in Europe, having previously served as the company’s Chief Innovation Officer for five years. A 25-year old non-profit organization, XPRIZE is the global leader in designing and hosting incentivized prize challenges. We create daring, audacious competitions aimed at solving global problems for the benefit of humanity, from capturing carbon to eradicating Alzheimer’s to providing security to children. Up until now, we have been operating mostly from the United States; however, our competitions are open to everyone around the world and we have had participating teams from more than 140 countries.

Could you explain why you decided to establish your European HQ in Switzerland, and in particular Geneva?

Europe is an important hub on the world stage in terms of democracy, privacy protection, and cultural diversity. This has the potential to generate interesting competitions that may be additional to the ones that we have organized so far. As we strive to expand our activities and get more teams to work on global challenges from a European impact perspective as well, we needed to have a local presence. Among them is the Geneva Science and Diplomacy Anticipator (GESDA), a think tank dedicated to exploring how advances in science and technology can most efficiently be translated into and used as tools for the benefit of humanity as a whole. The partnership with GESDA played an important role in our decision to establish XPRIZE in Geneva. We have formed a strong collaboration pathway with them and will soon be launching a joint global competition on quantum computing. It will be the first of many initiatives – other topics in the pipeline include transition to sustainable energy, AI, longevity, and digital healthcare.

Within Europe, Switzerland was a natural choice for XPRIZE because of our impact-driven work. Switzerland – and Geneva, in particular – is home to numerous foundations, NGOs, UN agencies and stakeholders that are deeply involved in enabling a better future for all.

How has GGBa supported you?

We were warmly welcomed by GGBa and the Geneva investment promotion team (DG DERI). They were receptive to our needs and made valuable introductions to help us accelerate our integration into the Swiss innovation ecosystem. We are counting on their continued support as we expand our footprint in Switzerland.

What’s your vision for XPRIZE in Switzerland?

At first, our goal will be to enhance the visibility of the XPRIZE Foundation in Europe. In parallel, we will focus on establishing an appropriate and separate funding framework to support all participating teams, regardless of their final success in the competition. Funding will enable the teams to go far and deliver on their promises and meet both economic and societal impact. The idea is also to weave the Swiss ecosystem into the very design of our competitions by involving local innovation stakeholders such as incubators and accelerators. Ultimately, our hope is to achieve even greater impact with XPRIZE from Europe.

Amir Banifatemi Executive Director and General Manager XPRIZE Europe

Could you please introduce yourself and tell us a little bit about XPRIZE and the problem it’s trying to solve?

Could you explain why you decided to establish your European HQ in Switzerland, and in particular Geneva?

How has GGBa supported you?

What’s your vision for XPRIZE in Switzerland?

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