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GE funds $100 million breast cancer detection contest

General Electric recently announced that they will be backing a six-month contest worth $100 million for individuals to find breakthrough breast cancer news and discover different methods for early detection, according to Bloomberg.

"In the case of breast cancer, there's some meaningful therapies, it's such a pervasive disease, we thought it was a good place to start," CEO Jeff Immelt said at an event in New York to unveil the effort, the news source reports. "There's a chance for this disease to go chronic in some cases."

The contest will give healthcare and research companies the funding they need to hopefully produce new results, which can help diminish the large number of women and men affected worldwide. It is also partnering up with one of the biggest breast cancer awareness organizations - Susan G. Komen for the Cure -for the next three years, the media outlet reports.

According to the American Cancer Society, one in eight women in the U.S. will eventually be diagnosed with breast cancer. This disease is the second leading cause of cancer-related death among women, following only lung cancer.
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