Growth of the pioneering prize pool is accelerating
For Immediate Release
HOUSTON, Texas, November 19, 2021 – The Mars Initiative is announcing its pioneering Mars Prize Fund has surpassed $25,000 in November, representing several years of consistent effort by a small team of volunteers. The Mars Prize Fund is a public savings account that uses a crowd-sourcing model to support a human mission to the Red Planet.
Growth of the fund has accelerated in the last 3 years, due to several factors, including increases in the number of donors, diversification of the portfolio investment strategy, and the development of new donation mechanisms, such as cryptocurrencies.
“We are pleased with the sustained growth of the Mars Prize Fund. The breakthrough has occurred at a time when the organization has also committed to other funding initiatives such as the educational Micro Grant Program and the Space Innovation Grant,” said Josh Lipshaw, Treasurer for The Mars Initiative.
The Mars Prize Fund has grown 54% in the last two years, and maintained a compound annual growth rate of 65% since the inception of the fund. Donations in the form of cryptocurrencies now comprise almost 7% of the Mars Prize Fund.
Mars Initiative is a publicly-funded, international non-profit organization focused on creating the opportunity for individuals around the world to contribute to the advancement of space travel and inspiring a love of space in young people. We utilize crowdfunding to make it possible for all persons to have a hand in supporting the first successful crewed mission to the surface of Mars as well as provide resources to classrooms and youth organizations that inspire the next generation of Space Advocates. For more information see the website at https://marsinitiative.org/.