Final submissions for $100 million global challenge

Wednesday, 02 November, 2011

GE’s first ‘healthymagination Challenge’ is an open call to action for oncology researchers, businesses, students and healthcare innovators to submit promising ideas that will improve breast cancer diagnostics and treatment.

Through the challenge, GE and its venture capital partners will award up to $100 million to fund breakthrough ideas that advance early detection, more accurate diagnoses and targeted treatment of breast cancer.

President & CEO, GE Australia & New Zealand, Steve Sargent said GE has received close to 50 submissions from individuals and research institutes from around the world to date but would like to encourage more entrants from Australia to increase the likelihood of a home-grown winner.

“Australia has a proud record of scientific endeavour so we know there are lots of great ideas out there. Now is the chance for the best minds in Australia to get funding for the next breakthrough idea for breast cancer research,” said Sargent.

“If we can bring about even a 1% reduction in the cancer death rate, every day one Australian family will be spared the loss of a loved one to cancer. The opportunity to work with government and the Australian research and healthcare community towards such outcomes is both exciting and humbling,” Sargent concluded.

Entries should include a short description for the public (300-word limit), plus a long description for the judges that explains the idea in more detail (500-word limit), as well as other supporting images, video or other media that may help demonstrate the concept.

GE is accepting entries for the challenge through 20 November 2011. Interested parties should visit the website for more information.

Winners will be offered the opportunity to develop a commercial relationship with GE and four venture capital partners, including Kleiner Perkins Caufield & Beyers, Mohr Davidow Ventures, Venrock, and MPM Capital.

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