The XPRIZE Foundation is a non-profit organization headquartered in Los Angeles, California, dedicated to fostering innovation through incentivized competitions. While their work encompasses numerous fields, a significant portion focuses on accelerating advancements in satellites and space technology. They do not operate their own satellites or directly build space technology, but rather design and manage competitions that encourage private entities to push the boundaries of what's possible.

The XPRIZE Foundation's approach involves designing meticulously crafted challenges with clear rules and substantial prize purses. These competitions attract teams of engineers, scientists, and entrepreneurs from around the globe, fostering collaboration and driving rapid innovation in specific areas of space technology. The challenges often address critical issues such as reducing launch costs, developing more sustainable and efficient space exploration methods, and utilizing space resources.