writes "Nine rocket-powered vehicles will compete for NASA's $2 million, 2008 Northrop Grumman Lunar Lander Challenge, Oct. 24-25. The goal is to accelerate development of commercial Lunar Landers capable of bringing payloads or humans back and forth between lunar orbit and the lunar surface. NASA of course would expect to use some of the technology developed at the Challenge. To win the prize, teams must demonstrate a rocket-propelled vehicle and payload that takes off vertically, climbs to a defined altitude, flies for a pre-determined amount of time, and then land vertically on a target that is a fixed distance from the launch pad. After landing, the vehicle must take off again within a pre-determined time, fly for a certain amount of time and then land back on its original launch pad."
Details about the teams involved with the competition
are available at the X-Prize website. The event will be broadcast live via webcast