Qualcomm known for 3G, 4G and next generation wireless has reintroduced their annual contest for technology companies. The goal of the contest is to identify and fund the industry's next promising, early-stage technology companies. The QPrize competition is open to entrepreneurs across China, Europe, India, Israel, Korea, Latin America and North America. One finalist from each region will be awarded US$100,000 in convertible note financing from Qualcomm as seed funding and will be invited to compete against other regional finalists in the QPrize Grand Finals competition. The Grand Finals winner will receive an additional US$150,000 of convertible note funding to help transform the company's innovative business plan into reality.
The deadline to submit business plans is April 18, 2014. From the pool of competing entries, Qualcomm Ventures will select up to eight finalists from each of the seven regions. Finalists will attend a regional competition where each company will be evaluated by a panel of experts based on the merits of the technology innovation, its market potential, the company's management capabilities and the attainability of the proposal's financial projections.
As an example of ventures that have won, last year's North America winner was MightyText.
MightyText is an Android-based application that enables people to send SMS messages from their computer or any device via the cloud. It syncs directly with the user’s Android phone and number, making life easier for people who send and receive text messages and get phone calls while in front of a computer.
Mighty Text Features
- Send/Receive SMS from your devices
- Uses your current Android phone number
- Instant notifications on computer
- See who’s calling you on your computer
- Left your phone in car? No worries
- “iMessage for Android”
SMS from your computer or tablet. Sync’d with your Android phone & number.
The Qualcomm Ventures QPrize competition is now open. To get additional details, including background information on past winners, rules and regulations, submission guidelines, or to submit your business plan go to www.qprize.com.