Google and the X Prize Foundation announced the move at Wired NextFest in Los Angeles yesterday.
The plan came from a morning brainstorm featuring Google's Larry Page and Virgin beardie Richard Branson.
During a break for lunch, Page told Wired that he and Google cofounder Sergey Brin had been "kicking around" the idea of sending low-cost robotic landers to the moon.
Someone went out the back did some figures on the back of a fag packet and worked out how it could work and the Google Lunar X Prize was born.
Companies can win up to $5 million more for extras like traversing greater distances, visiting historic landing sites, and surviving the lunar night. You also get $5 million if you come in second or land safely but fail to complete the rest of the mission.
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