The electronics company's Innovation Fellows Competition asks people to submit ideas that will help others live well and enjoy life.

The Philips Innovation Fellows Competition asks people around the country to submit ideas that will help others live well, be healthy, and enjoy life. The participants will run crowdfunding campaigns for their ideas on Indiegogo, and the judges will choose the ultimate recipients of the $100,000 in prize money.

The competition will recognize the best products, services and tangible ideas. Interested participants can register now and once their registration has been confirmed by Philips, they can begin building their pitch on Indiegogo, which will go live on August 15th.

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