The New Ventures Healthcare Challenge once again will kick off the Cleveland Clinic’s 2014 Medical Innovation Summit, introducing the world to healthcare information technology companies with new and creative concepts.

"We’re looking for anything creative, innovative or inspiring," says Gary Fingerhut, executive director of Cleveland Clinic Innovations (CCI). “We want anything that’s going to revolutionize the health of our patients.”

While the summit does not start until October 27, the deadline for the first round of the challenge -- a video submission -- is Friday, May 30. “This year is a much more structured approach, with three rounds,” says Fingerhut. “There is the new video round, which explains what’s unique, why the idea is a game changer and how big an impact it will have." The second round is a web conference presentation. A select group of candidates will then be asked to present at the summit to a panel of experts and venture capitalists."

The winning company will work with CCI and its advisory board on commercialization strategies. The team will also demonstrate its product to a select group of Cleveland Clinic caregivers.

“Last year, the competition added a lot of energy because we had these really bright entrepreneurs from 40 states and 20 countries,” says Fingerhut. “It’s an exciting way to kick things off.” Eleven teams ultimately presented their concepts to the board.

Last year’s winner presented a thermometer that connects to the cloud for predictive analysis of the flu across the country. CCI currently is assisting the team with commercialization end of the product.

Applicants must submit a You Tube link to MIS2014@ccf.org  by May 30 to be considered for the video round.