The US-based X Prize Foundation, which runs science and technology competitions with prizes worth more than $10m (€6.4m, £5.1m) each, is to “go global” in collaboration with BT.

Under an agreement to be announced on Thursday, the British telecoms giant will provide the non-profit foundation with $7m in operating funds that will cover the costs of developing new X Prizes “to solve some of the greatest challenges of our time”, particularly in energy, the environment and life sciences.