 We're living in a day and age where small teams of individuals can literally do what only governments and large corporations could do before. They're empowered by extraordinary, exponentially growing technologies. The Visionary Summit is really recognition of the bold innovator. What attracts people to visionaries is the idea that people from anywhere, from different backgrounds can all come together to work on solving some of the world's grand challenges. When you put it in an XPRIZE and we put it out to that ecosystem, essentially we're gamifying innovation. We're harnessing the wisdom of the world, now collaborating and working to solve a grand challenge. These teams are passionate about some topic and they're looking at as, I have the ability to amplify my impact by designing a prize that will incentivize thousands of people from around the world to solve it. When people are motivated by their passion, they can change the world. Our sponsors are dedicated to developing prizes with us to solve the world's grand challenges. So the way the model works is that every year we identify and select from our portfolio of grand challenges facing humanity. We identify bold innovators in those related fields and then form high-powered teams to develop their prize impact proposals. Teams then present at the Visionaries Summit where the full XPRIZE ecosystem of prominent world-leading innovators gather to critique each team's prize designs while also providing mentorship and feedback. The purpose of the summit is to vet the different competing teams to determine what is the next XPRIZE. For this year, Visionaries 2016, we have nine teams who are passionate about their grand challenge domains backed and supported by nine different corporate and philanthropic sponsors. Four billion people do not have routine access to water. So they're experiencing what are scarcity, what are stress on an annual basis to varying degrees. That's four billion people. Amiotrophic lateral sclerosis is very difficult to cure for many different reasons. Probably the foremost among them is that we don't know what is actually causing the disease. Because it's rare, it's been hard to design clinical trials to test drugs. So we can't treat it because we don't have medicine. Eight million people a year are diagnosed and pass away from cancer. It literally is a disease that affects every single person on the planet. Cancer is hard to solve because of the complexity. You could potentially introduce something that could change the genome in a tumor and cause it to shrink up and die. For the past four thousand years, humans have been discussing what it means to be compassionate, what it means to be empathic to others. Empathy is the capacity to understand and feel another person's emotion. We usually say walk a mile in someone else's shoes. With virtual reality, you can keep your shoes and we'll give you eyes and ears. I believe and I think there are other people out there who believe that basic human right is access to housing. Today around the world, there are about one and a half to two billion people who don't have access to housing. Humans have always wanted to fly. It's always been this kind of dream. These days it seems more like mass transportation. ANA as a company has a mission of merging people time and cultures. We want to transform an experience that seems painful into one that's of high value. Today you have 800 million people living in hunger. You have two billion people with micronutrient deficiency. These problems have a massive impact on health, particularly obesity. It's becoming increasingly serious. Even in a times economy like the U.S., not everybody has access to the right food. If we can empower everyone to have access to a healthy and affordable diet, then I think we can change the world for the better. 97% of water on the planet is seawater. We've been doing desalination in different parts of the world for many years now. One of the hits against desalination is that it's very energy intensive. What if the energy that was used was inexpensive and sustainable and accessible? Maybe it wouldn't matter as much how much energy you use. Most buildings use large massive amounts of energy and what's worse is it's making us all ill. We spend 80 to 90% of our time indoors breathing in these toxins over and over again. These are real buildings that make you well. At the end of September, all nine teams are going to come together for the Visioneer Summit 2016. They will be sharing all the work that they've done and really trying to convince the audience, convince the world that their idea should be the next XPRIZE. The focus of the summit is contextualized by four pillars at XPRIZE. We have the XPRIZE Institute, which is the first pillar where we design our future roadmaps to achieve some massive transformative purpose in a domain like space and exploration. We identify what are those challenges that we want to move forward and are they prizeable and that's where the Visioneer Summit comes in. This is essentially saying great idea but can the crowd be harnessed to solve for this grand challenge. The third pillar is all about executing the actual XPRIZE competition itself. The fourth pillar is taking all of that work up to that point to figure out how we scale impact. Visioneering is a window into a world that few people get to see. It's imagining the biggest problems and clever, creative solutions on how to solve them. Looking at the roster of people who are attending, it is clear that this is the cream of the crop. It's a bunch of dynamic, crazy individuals saying sky's the limit. And that's what this Visioneering is about. Stretching people's quality of imagination, stretching their minds. What's the market failure there? What's not happening? That could happen. Will this idea work? Can it have an impact? What could you make possible? And the imagination of going from this was impossible to this is climbable, this is doable. The next XPRIZE is about breaking that imagination barrier. The exciting thing about the Visioneer Summit is not only the electricity from nine teams competing with passion for their grand challenge, but we will identify what is the next XPRIZE competition that we want to release to the world. This is significant. We give people clear, objective goals and challenge them around the world and say you solved this. I don't care where you went to school, what you've done before, you changed the world and we all win.