Smart brains with bright ideas have an opportunity to tap into $100,000 in prize money from Philips. The company recently launched a US nationwide competition for the “next big thing” that will help people live happy, healthier lives.
Philips has partnered with crowdfunding site Indiegogo, which means that entrants can try and raise financial support for their ideas.
Participants are being asked to focus their creativity and innovation efforts on three key areas. They are:
Living Well – for example, coming up with ideas that allows people to have a restful sleep
Being Healthy – for example, this could be new ideas for families to better monitor their health or prevent illnesses
Enjoy Life – ideas to foster greater happiness in people’s lives.
Each submission will be judged on a number of factors including:
A panel of judges will select five finalists and the overall winner will be decided on by a vote among employees of Philips.
Prize Money
The top prize is $60,000 to help bring the innovation to life.
“Philips is always looking for the ‘next big thing’ and we want to broaden our reach and celebrate great ideas that have the potential to revolutionize the way we live,” said Greg Sebasky, Chairman,Philips North America. “We invite all innovators to share their ideas and to help us in our search.”
For more details about this open innovation contest and to register, click here. You can register up until August 15.