what is the health innovation challenge

Here's the website: http://www.nzfocusonhealth.com/

"Focus on Health - A New Zealand Innovation Challenge aims to provide the platform to commercial success and deliver health solutions from New Zealand to the world’s largest health market, the United States."

 like the expression - "lucrative market"

 what kind of ideas are they looking for?

Perhaps they don't have any ideas. Isn't innovation about novelty, challenging existing paradigms, seeing things that others need help seeing about how we can do things differently or create new products? Sometimes I feel like innovation is all about fumbling around in the dark until we trip over something that looks like it could be useful....

good points but I suspect they still have their ideas or cognitive filters about what innovation is and what they are looking for

I've just seen that they have announced the 10 finalists:
http://www.nzfocusonhealth.com/finalists.html