The Google Lunar X PRIZE is a $30 million international competition to safely land a robot on the Moon, travel 500 meters, and transmit images and data back to Earth.  Unlike previous decades where space activity was largely government-funded, companies and organizations are responding to challenges like this and demonstrating that space exploration is no longer limited to multi-billion dollar programs.

Other than the prestige of winning and the respect earned even if you place second (after all, it is a tremendous accomplishment), what other value can be gained from competing for this prize?  As part of a committee evaluating the creation of a university-led team to compete for the prize, I've had some valuable insights.