Recently, we concluded phase one of our $100M healthymagination Open Innovation Challenge to accelerate detection and more personalized diagnostics for breast cancer. On behalf of GE and healthymagination, we are pleased you chose to submit your idea as part of this effort.
By joining our Challenge, you have become a part of a new digital ecosystem of breast cancer innovators that has enormous economic, social, and clinical significance. You are among more than 225 institutions, 150 for-profit companies, non-profits, individuals, and students who submitted an idea. You are from over 40 different countries. What ties us all together, however, is our shared focus on empowering breast cancer patients and their physicians and improving the continuum of care. Indeed, the real strength of our initiative and investment is the potential for creating shared value through new ideas and opportunities like yours.
We are hard at work with our judges and venture capital partners, evaluating all the ideas submitted. The quality of submissions is high, and we are devoting the time and effort needed to thoroughly evaluate every idea and objectively reach a decision on five seed grant awards of $100,000 each. It is our desire to announce winners of these awards early in the coming year. Investment and collaboration decisions by GE and our venture capital partners will take additional time, and more work and details from those of you selected. So stay tuned.
Finally, 2012 holds even greater promise! We will announce the second phase of our Challenge when we announce seed grant awards from phase one; and more challenges will follow throughout the year. Regardless of our decisions in phase one or subsequent phases, healthymagination's overriding goal is to drive positive change through real engagement and connections. We want to stay engaged with you and the strong international network of cancer researchers and entrepreneurs, regardless of winners. Together, we can create a new generation of solutions for breast cancer patients worldwide.
Thank you for the effort and trust you placed in GE in submitting your idea to our challenge. If you have any comments, questions, or concerns or would like to discuss any issue of mutual concern do not hesitate to contact us at email@example.com.
Alan Gilbert Healthymagination Challenge Team GE Corporate