How to go from the initial idea to a funded and well regarded prize that is then competed for and eventually won?

Here is what's happened so far, and one path by which it could progress onwards

1. The initial idea was formulated as a sort of 'request for comments' type proposal

2. This proposal was circulated to a limited number of experts in the fields of computers, fabrication, robotics, nanotechnology, charity work, journalism and speculative fiction, for sanity checking and embellishment on various points.

3. This feedback being positive, the original proposal has been converted to a Wiki, and an email list set up to discuss it.

From here, the major steps would be:

4. Sufficient people are interested and join the discussion that it grows rather than dies off after a few initial posts

5. At least three competent people willing to dedicate some time to this volunteer to set up a formal foundation to which donations can be made, and at least one person with a relevant technical reputation agrees to be on a technical advisory panel.

6. A properly designed website with its own domain is set up. At this point, I am willing to put in an initial 10,000 pounds (20,000 dollars) of my own money, to kick-start things.

7 & 8 - The prize is formally publicly launched (prize criteria are frozen), and proper sponsorship is sought.

9. at least one team announces that they are working on an attempt at the prize.

I've probably missed off many steps that others will consider critical, and I would love it if someone could flesh this out in more details. However, as far as it goes, does that sound sane and plausible to people? Your thoughts, please.

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