Starting on Feb. 25, entrepreneurs and innovators with novel solutions for tackling the worldwide diabetes epidemic are invited to enter the Healthcare Innovation World Cup for a chance to win part of $75,000 in total funding and key visibility with industry leaders.

"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," Klaus Wilgenbus, SVP, PM business development and licensing/strategy at the Germany-based Boehringer Ingelheim, which is funding the competition. "Our goal is to identify the brightest ideas and provide the resources to help achieve scalability."

The Healthcare Innovation and Technology Lab, the World Cup's organizer, will accept initial entries worldwide via www.healthcareinnovationworldcup.com from February 25 to March 31, 2013.

Leaders from healthcare and technology organizations will select the most innovative and promising submissions, and semifinalists will receive expense-paid trips to present business plans at events in New Delhi, India and in New York, USA. The World Cup will culminate in a final event at the German Center for Research and Innovation on May 10 in New York City.