‘Tis the season for big prizes for science. As millions are being doled out for the Nobels this week, the X Prize Foundation yesterday announced a $10 million prize for the development of high-speed, low-cost DNA sequencing technology. The New York Times reports that the winner must be able to sequence 100 human genomes, chosen by the competitor, within 10 days, and another 100 genomes, chosen by the foundation, within six months. This foundation is the same one that awarded $10 two years ago to Mojave Aerospace Ventures for building a spaceship. Now it’s planning other competitions, including one for a fuel-efficient car. The foundation is calling this the largest prize in medical history.

The first X prize for the spaceship was announced in 1996 and awarded eight years later. How long will it take for the genomics prize winner to emerge? Will this turn into another Collins vs Venter type of competition?