Giving Compass' Take:

• Sy Mukherjee covers the Ken Griffin Alpha-synuclein Imaging Competition and its goal to improve Parkinson's research through advanced imaging technology.

• How can competitions spurred by philanthropy inspire new innovation?

• Read about how a new generation of philanthropy battles disease.

Ken Griffin, the billionaire founder and CEO of investment firm Citadel, is teaming up with the Michael J. Fox Foundation (MJFF) to fund a new $10 million Parkinson's research program. The program will be structured as a competition dubbed the Ken Griffin Alpha-synuclein Imaging Competition and will largely be funded by an initial $7.5 million leadership gift from Griffin.

Eventually, the competition—which seeks to create what MJFF calls a groudbreaking imaging tool "to visualize the key protein alpha-synuclein," clumps of which are found in nearly all Parkinson's patients, in the living brain—will provide $8.5 million in funding to as many as three winning research teams, with the team that makes the most progress in two years or less eligible for another $1.5 million.

Read the full article about Ken Griffin and the Michael J. Fox Foundation funding a new competition for Parkinson's research by Sy Mukherjee at Fortune.