The first Innovation Challenge in 2011 showcased three teams of young entrepreneurs who developed technological tools to help teachers in the classroom, and the winner – ClassDojo – won a $75,000 prize and was featured on NBC News’ “TODAY.” Since the Innovation Challenge in 2011, Class Dojo has grown rapidly and is now used by students and teachers in over 30 countries.

Building on the success of last year’s inaugural competition, the second “Citi Innovation Challenge” will feature new teams, bigger challenges and a more interactive format that gives the online audience a voice in determining which technology innovation holds the greatest promise for teachers and students.

This year’s teams are:

NoRedInk, which helps students improve their grammar/writing skills by creating content from their favorite celebrities, friends, and personal interests

Pathbrite, a tool to help students – and learners of all ages – collect, track and showcase a lifetime of achievement, and recommend pathways for continuous success

ReadImagine, which uses tablet technology and highly engaging content to foster active reading behavior, kindle imagination and improve literacy

The teams will compete to win the $100,000 “Citi Innovation in Education Prize” to help make their innovation a reality, as well as becoming part of the NewSchools Venture Fund portfolio, in order to help grow their business. The judging team includes Craig Barrett, Retired CEO/Chairman of the Board, Intel; Kaya Henderson, Chancellor, Washington DC Public Schools; Walter Isaacson, President & CEO, The Aspen Institute; and Mark Mason, Chief Executive Officer, Citi Holdings.