Singapore: Healthcare Innovation and Technology Lab is organizing a 'Healthcare Innovation World Cup' in order to provide support to the global cause of diabetes.

Entrepreneurs and innovators with novel solutions for tackling the worldwide diabetes epidemic are invited to enter the world cup, for a chance to win part of $75,000 in total funding for their anti-diabetes projects and key visibility with industry leaders.

The competition, which is being funded by Boehringer Ingelheim, will accept initial entries worldwide via the website, www.healthcareinnovationworldcup.com from February 25-to-March 31, 2013.

Industry leaders from healthcare and technology organizations will select the most innovative and promising submissions, and semi-finalists will receive expense-paid trips to present business plans at events in New Delhi, India, and in New York, US. The world cup will culminate in a final event at the German Center for Research and Innovation on May 10 in New York, US.

Mr Klaus Wilgenbus, senior VP, PM business development and licensing/strategy, Boehringer Ingelheim, said that, "Diabetes imposes a staggering medical and financial toll, and the epidemic is only growing. We must give nascent entrepreneurs and innovators a platform to demonstrate the disruptive technology solutions and care delivery innovations needed to turn this tide. Our goal is to identify the brightest ideas and provide the resources to help achieve scalability."