Elevator 2010 is a series of competitions founded by NASA with prize money totaling $4 million to be awarded to teams that achieve specific goals related to space elevator technology by the year 2010. The  competition beginning on October 20^th, 2006 requires the construction of a device consisting of a base pad that supports on launch and touchdown a payload-carrying "mechanical climber" capable of ascending a 50 m "vertical race track" ribbon supplied by the competition using a beam source, climb motor, climbing mechanism, control logic, and other designated logistical effects.