The $10 million Ansari XPRIZE is launching off the private space industry.

The $10 million Ansari XPRIZE—the highest prize in history—was awarded to Mojave Aerospace Ventures for its SpaceShipOne on October 4, 2004, capturing the attention of the entire world. The team's winning technology was licensed by Richard Branson to develop Virgin Galactic, led by legendary aerospace designer Burt Rutan and his business Scaled Composites, with financial backing from Paul Allen. With the announcement of the winner of this competition, a new $2 billion private space sector was born.