A new international challenge has finally arrived, and not a moment too soon! The Henry Ford Innovation Institute (HFII) has partnered with Health 2.0 to launch the HFII HealthTech Challenge. The challenge encourages innovators in over 25 countries to address avoidable hospital readmissions through mobile-health and IT solutions. $50,000 in prizes and up-to $100,000 in technology development support will be awarded to the best solutions.

The HFII HealthTech Challenge aims to reduce avoidable readmissions of patients with exacerbations of chronic conditions, like pneumonia, COPD, and congestive heart failure. Rising readmissions penalties strain private insurers and capitated health systems. Not to mention, patients and providers are inadequately prepared to manage complicated medical conditions post-hospital discharge.

Open to the international community, this Challenge invites innovators in over 25 countries to compete for $50,000 in prizes. The five best finalist will be awarded $10,000 each. These teams will then compete for a chance to receive an offer of a rapid commercialization investment, consisting of up-to $100,000 for technology development, up-to 9 months of product development support and clinical validation within the Henry Ford Health System, technology and business support from HFII’s commercial partners, and access to world-class mentors and experts across a variety of fields. Throughout the development period, the winners will receive exposure to capital investors that can provide additional funding to fuel the growth of these technologies.

Check out the challenge details at www.healthtechchallenge.com, and make sure to stay tuned with us for all your HealthTech Challenge needs!

Submissions are due January 3, 2014.