Philips Sponsors Challenge Cup Competition and Challenge Festival

With an eye toward helping an aging population and reducing the burden of chronic diseases, Philips is expanding its partnership with global incubator 1776 as the 2016 global health sponsor for the Challenge Cup Competition and Challenge Festival.

Under the program, startups will compete at the local, regional and global levels, culminating in a tournament in Washington, D.C., this June. More than 80 startups will attend the week-long event, which is scheduled to include mentor and investor meetings, industry trend discussions and a pitch competition.

"There has never been a greater need for connected, sustainable healthcare, and there has never been a greater opportunity for entrepreneurs and innovators to connect people, data and technologies to transform lives around the world,” said Jeroen Tas, CEO of Healthcare Informatics Solutions and Services at Philips.— Jonathon Shacat