Samsung Electronics has launched a bold initiative aimed at directing the resources and innovation of the global technology industry toward empowering individuals to better manage their own health and wellness.

The Samsung Digital Health Initiative is based on open hardware and software platforms that will accelerate the development of advanced sensors, algorithms, and data collection and analysis.

At an event at San Francisco’s SFJAZZ Center today, Samsung’s Strategy and Innovation Center (SSIC) team demonstrated its open platform in a wearable wristband form factor, showing how devices based on this reference-design blueprint could be used to track measurements such as heart rate, respiratory rate and blood pressure.

The company also demonstrated its open software architecture and how it could be used to collect data from a variety of sources, aggregate it and display it in a format allowing consumers to better understand what is taking place within their bodies.

The open platforms, combined with agreements like the one recently announced by Samsung and the University of California, San Francisco (UCSF) to validate new technologies for personal health and wellness, are designed to help entrepreneurs bring innovative products to market more quickly.

Open Hardware Platform: Samsung’s Simband is an open hardware reference design for wearable technology, capable of integrating the most advanced sensing technologies in the world. Simband is being designed in a modular way, allowing for innovation in areas like battery life, form factor and noninvasive sensor technology.

Innovators are invited to use the reference platform to create and contribute their own advanced sensors, algorithms and other technologies. Simband is a reference design Samsung and third-parties will use to develop products. It will not be sold commercially. This approach is intended to lead to the creation of ecosystems for hardware and algorithms that will enable new technology to be easily incorporated into finished products.

Open Software Architecture: The Samsung Architecture for Multimodal Interactions (SAMI) will be a cloud-based open software platform capable of bringing together diverse data from a variety of sources for analysis. It will allow devices and sensors to securely store data in the cloud regardless of the source’s format or structure.

SAMI’s job is to make more information available, to break open information silos and give applications and services access to large amounts of data to provide better insights. Under Samsung’s approach, SAMI will allow data to be controlled by the individual generating it and not by third-parties, so that personal health data can be better protected.

The combination of Simband-designed sensor technologies and algorithms and SAMI-based software will take individual understanding of the body to a new level – for the first time giving voice to a deeper understanding of personal health and wellness. In addition, through the development of new sensing technologies and software, it’s possible that entirely new and previously unimagined insights into health and wellness could be generated.

To support its Digital Health Initiative, Samsung today also announced the Samsung Digital Health Challenge, a $50m investment fund dedicated to innovative start-ups and technologies in the digital health area. The goal of the fund is to stimulate creative new approaches to digital health and Samsung’s open platforms.