As announced at a recent MIT workshop: The BCI X PRIZE: This Time It’s Inner Space:
The Brain-Computer Interface (BCI) X PRIZE will reward nothing less than a team that provides vision to the blind, new bodies to disabled people, and perhaps even a geographical “sixth sense” akin to a GPS iPhone app in the brain.
As I've discussed many times (e.g. BCI: Brain Computer Interface), "mind reading" with EEG is a huge challenge. Another hurtle they have to overcome:
The foundation must court donors to make the $10 million+ prize a reality. Once funding is secured,...
That will be the easy part.
The problem with the X Prize incentive approach is one of expectations. If people believe that Avatar-like advances ("new bodies") is a realisitic result, they will be sorely disappointed.
Even though I'm a certified "mind reading" skeptic I think great BCI strides will inevitably be made. The good news is that these innovations will provide numerous benefits for handicapped individuals.
UPDATE (2/5/10): Here's a great example: Technology Behind Second Sight Retinal Prosthesis
