The Qualcomm Tricorder X Prize is a $10 million scientific prize competition, co-sponsored by Qualcomm and the X Prize Foundation, to develop a portable, non-invasive medical diagnostic device similar to the famous tricorder seen in the Star Trek television series and films.
Registered teams of competitors will have 3.5 years to develop their devices, which will be required to measure and diagnose 15 common diseases using non-invasive methods. The team that successfully measures the most diseases using a doctor- and patient-friendly device weighing less than 5 pounds will win the $7 million first prize, with the second and third place teams winning $2 million and $1 million respectively.
Final competition guidelines will be released in September 2012, at which point the contest will begin!
Several technologies from Star Trek have already started to come true, including communicators (ie cellphones) and replicators (3D printing). It seems the tricorder may be next, although I'm still waiting with bated breath for the announcement of the Transporter X Prize.