|Spock with Tricorder|
"Imagine a portable, wireless device in the palm of your hand that monitors and diagnoses your health conditions. That’s the technology envisioned by this competition, and it will allow unprecedented access to personal health metrics. The end result: Radical innovation in healthcare that will give individuals far greater choices in when, where, and how they receive care."
An overview of the competition --- the general concept of the device, and the need for such a device --- are given here.
The X Prize Foundation has started a Tricorder Design Competition blog where you can follow news and progress of the competition as it develops.