Final call for Australian submissions -- Challenge closes 20th November 2011
Australia -- 28 October, 2011: GE is calling for final submissions for their $100 million global healthymagination Challenge aimed at accelerating innovation in breast cancer, ahead of the closing date later this month.
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 Mr Sargent.
"If we can bring about even a one per cent 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," Mr Sargent concluded.
Making a submission is easy. 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 November 20, 2011. Interested parties should visit www.healthymagination.com/challenge 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.
GE is a diversified infrastructure, finance company taking on the world's toughest challenges. From aviation and power generation to financial services, healthcare solutions, oil and gas and rail, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's website at www.ge.com/au.
About GE's healthymagination Initiative
Launched in May 2009, GE's healthymagination initiative is focused on four critical needs: low-cost technology; healthcare IT; innovation accessible to all; and consumer-driven healthcare. GE has committed that by 2015 it will:
- Invest $3 billion in research and development to launch at least 100 innovations that will help deliver better care to more people at lower cost.
Provide $2 billion in financing and $1 billion in technology to bring healthcare information technology to rural and underserved areas.
Reduce the cost of procedures that use GE technologies and services by 15 per cent and develop products tailored to underserved regions of the world.
Reach 100 million more people every year with services and technologies essential for health.
More information at www.healthymagination.com.
Corporate Communications Director, Australia & New Zealand
+61 409 330 731