Intel Foundation Awards $100,000 for Excellence in Entrepreneurship and Innovation
Lab4U of Chile won the grand prize in the 2014 Intel Global Challenge, receiving a $50,000 award from the Intel Foundation. Lab4U developed a technology that allows for a mobile phone to be used as a science instrument through built-in sensors, and a crowd-learning web platform to share lab results. The Intel Global Challenge is designed to motivate young entrepreneurs to develop innovative technologies that solve real-world challenges, build viable business models, and move that technology out of university labs and into the market. PHOTO CREDIT: Intel/Todd Eckelman
SILICON VALLEY, Calif., Nov. 7, 2014 – Lab4U, a team of student entrepreneurs from Chile, has won the 10th annual Intel Global Challenge, a global business plan competition that encourages student entrepreneurs to tackle some of the world’s most pressing issues through computing technology. The competition provides a unique entrepreneurship experience by giving teams access to top venture capitalists and investors in Silicon Valley.
Lab4U, comprised of team members from the University of Chile and a local cancer research center, developed a technology that uses a mobile phone as a science instrument in order to democratize laboratory equipment. Through built-in mobile sensors and a crowd-learning web platform, users can prepare, analyze and share lab results via a mobile phone. The team, inspired to create this technology by a lack of lab instruments at their own university, aims to change the way science is taught and how experiments are performed.
“At Intel, we believe in giving today’s young innovators the opportunities and resources to foster their interest in entrepreneurship,” said Staci Palmer, Intel’s director of Global Strategic Initiatives and Marketing in the Corporate Affairs Group. “Through programs like the Intel Global Challenge, students from around the world, like Lab4U, are able to pursue their passion to create new technologies that positively affect people’s lives.”
The Intel Foundation awarded $100,000 total in cash prizes, including a $50,000 grand prize and three $15,000 awards for teams taking first place in the following categories: Internet, mobile and software computing; computing for social innovation; and Internet of Things and hardware. Additionally, a $5,000 prize for social media was awarded.
Innovations from the three first-place winners ranged from education to manufacturing. Neuron Guard of Italy developed an on-site, integrated solution for the treatment of acute brain damage to prevent irreversible loss after a stroke, sudden cardiac death or traumatic brain injury. Karisma Kidz of the United Kingdom created a mobile application called, “Moodville,” a gaming solution for children to increase their emotional intelligence through mood identification and management. Servtech of Taiwan invented a technology infrastructure to leverage information communication technologies in manufacturing. Through Servtech’s technology, factories can use big data to access machine conditions and detect anomalies in equipment. Plaze of Lebanon was awarded for their innovative approach to social media during the Intel Global Challenge.
The competition, held at the Haas School of Business at UC Berkeley, drew 26 teams from 20 countries around the world. These finalist teams were selected from more than 60 countries and nine regional competitions. Founded in 2005, the Intel Global Challenge is designed to motivate young entrepreneurs to develop innovative technologies that solve real-world challenges, build viable business models, and move that technology out of university labs and into the market.
Over the past decade alone, Intel has invested more than $1 billion, and its employees have donated close to 4 million hours, to improve education in over 70 countries. For the latest Intel education news, visit www.intel.com/newsroom/education, join the Facebook group at www.facebook.com/Intel and follow Twitter updates at twitter.com/intelinvolved.