Medline Industries Inc. has launched the 2014 Medline Innovation Challenge to reward institutions for licensable technologies in the areas of medical devices and healthcare solutions.

 “This contest will allow us to build an innovation engine that will advance healthcare through a wide range of solutions, from incremental improvements to game-changing concepts,” said Francesca Olivier, corporate sustainability and innovation manager at Medline.

The Medline Innovation Challenge is looking for inventions in med-tech, such as areas of surgical solutions, infection prevention and patient care. Entries must be submitted on behalf of an office of technology transfer affiliated with a university, a healthcare provider or research institution.

Finalists will be invited to Medline’s corporate headquarters in Mundelein, IL, for the chance to win $10,000 for first place, $5,000 for second and $2,500 for third.

Submissions are due by October 20. For more details, go to http://www.medline.com/about-us/innovation/2014-medline-innovation-challenge.