HHS and The Office of the National Coordinator for Health Information Technology introduce new Investing in Innovations (i2) Initiative

Washington, D.C. — The Office of the National Coordinator for Health Information Technology (ONC) announced today the Investing in Innovations (i2) Initiative – a bold new program designed to spur innovations in health IT. The program centers on prizes and competitions to accelerate the development of solutions and communities around key challenges in health IT.

This landmark initiative is the first Administration-wide program using prizes and challenges to advance an agency’s mission made possible by the America COMPETES Reauthorization Act of 2010, signed into law by President Obama on Jan. 4, 2011. The Act invests in innovation through research and development and seeks to improve the competitiveness of the United States.

As part of the initiative’s rollout, ONC has awarded nearly $5 million to the Capital Consulting Corporation (CCC) and Health 2.0 LLC, to fund projects supporting innovations in research and encouraging health IT development through open-innovation mechanisms like prizes and challenges.

“The initiative demonstrates ONC’s recognition of the importance of investing in innovations and provides a platform that will attract an expanded community of innovators to the full range of the agency’s programs.  It opens the door to new opportunities for open collaboration from a wide range of diverse individuals and organizations that will increase the national rate of innovation and adoption of health IT as we improve health care of all Americans,” said Farzad Mostashari, M.D., Sc.M., national coordinator for health information technology.

Click here to read the full release.

Image via flickr.