Google and the X-Prize Foundation have set up a high brow challenge to any private, non-government entity who can land a rover on the moon and send back at least a gigabyte of images, video and data back to Earth.

The Internet search giant is willing to invest over US$ 30 million to anyone willing to take up the herculean task.

The first prize of US$ 20 million will be given to the first private firm to reach the moon and then soft land a rover to travel at least 500m and gather a specific set of images, video, and data. The second prize winner will get up to US$ 5 million for being able to repeat the first placer's achievements.

Bonuses of US$ 5 million will be given to rovers which complete other objectives such as traveling further on the Moon, taking pictures of Apollo hardware, finding water-ice, and surviving an entire lunar night.

X-Prize Foundation CEO Peter Diamandis explains the objective for such a competition: "We are confident that teams from around the world will help develop new robotic and virtual presence technology, which will dramatically reduce the cost of space exploration."

Challengers have until 2012 to complete the task. After that, the prize money will be lowered to US$ 15 million until 2014, when the competition will officially end. This is actually the third competition administered by the X-Prize Foundation.

The first one involved a similar "space race" while the second one was the sequencing of 100 human genomes in 10 days.