'Star Trek's' Tricorder helped the crew of the USS Enterprise diagnose diseases and collect medical information from the patients. Modern science has caught up with the fictional medical device and 10 teams will compete for $10 million to create a real Tricorder.

Not-for-profit organization XPrize Foundation and communications company Qualcomm launched the Qualcomm Tricorder XPrize contest in January 2012. More than 300 teams took the challenge to create a "lightweight, portable, wireless device" that could diagnosis and monitor a variety of health conditions, according to USAToday.

"The theme of 'Star Trek' is really about what the future is going to be like and the kind of technology we're going to see there," Erik Viirrre, technical and medical director for the competition, told USAToday.

The Qualcomm Tricorder XPrize contest will announce its 10 finalists at the IEEE Engineering in Medicine and Biology Society Conference in Chicago on Aug. 27. The teams come from the United States, Europe, Asia and Canada and represent non-profit groups, academic, start-ups and established device manufacturers, according to Viirre.

The device must come equipped with a few technical requirements. It can weigh no more than five pounds and must test for vital health signs like blood pressure, heart rate, oxygen saturation, respiratory rate and temperature. It must also accurately diagnose 16 health conditions (i.e. anemia, diabetes, pneumonia) and at least three elective conditions (i.e. airborne allergens, HIV, strep throat).

Qualcomm hopes for a future "where consumers demand the tools to assess and manage their health independent of a hospital or doctor's office," according to the contest website.

"This competition is really about leading a kind of revolution in consumer-driven health care," Grant Campany, the competition's senior director, told USAToday.

The contest will award the $10 million grand prize winner in 2016. The finalists' devices will undergo judging from a panel of experts, diagnostic evaluations and consumer testing.

The U.S. Drug and Food Administration has offered regulatory input throughout the competition. The agency has helped teams prepare for potential FDA review post-competition.