Qualcomm Ventures Launches QPrize Business Plan Competition
New Program to Provide More than $500,000 in Early-stage Financing for Companies and Entrepreneurs
SAN DIEGO: Qualcomm (Nasdaq: QCOM), a leading developer and innovator of advanced wireless technologies, products and services, has launched a global business plan competition to promote innovation in the wireless industry. The Qualcomm Ventures QPrize™ competition is open to entrepreneurs in North America, Europe, China and India and will provide US$550,000 in total seed funding to help entrepreneurs transform their innovative business plans into reality.
“Many of tomorrow’s great technology innovations are being developed by small companies, entrepreneurs and university students,” said Nagraj Kashyap, vice president of Qualcomm Ventures. “This competition is designed provide initial financial support to help bring their ideas into the market.”
The Qualcomm Ventures QPrize competition is open to international entrants whose business plans accelerate wireless technology development in the following business sectors:
- Consumer/enterprise applications and services
- Communication devices
- Semiconductor and component technologies
- Mobile platforms
- Digital media and content
- Healthcare technologies and services
- CleanTech
The deadline for business plan submissions is July 31, 2009. From the pool of competing entries, Qualcomm Ventures will select one semi-finalist for each of the four contest markets: North America, Europe, China and India. These four semi-finalists will each receive US$100,000 of convertible note funding from Qualcomm Ventures and will be invited to the Qualcomm Ventures CEO Summit in San Diego, Calif. to compete for the Grand Prize. The Grand Prize winner will receive an additional US$150,000 of convertible note funding, for a total prize of US$250,000 in venture financing. Key sponsors and partners for the QPrize competition include DLA Piper and Plug and Play Tech Center.
Additional details on the Qualcomm Ventures’ QPrize competition, candidate eligibility and submission guidelines are available at www.qprize2009.com.
Important Dates:
May 7th, 2009 – Public Launch
July 31st, 2009 – Deadline for submitting completed business plans
August 28th, 2009 – Notifications will be sent to all semi-finalist
* September 19th 2009 * Location: Bangalore – Region specific semi-final for India
October 16th, 2009 – Deadline for submitting revised business plans for the final competition
November, 2009 - Finals at San Diego, CA
Wireless entrepreneures in India, get ready with your B-Plans soon as the last date is not very far away. We are waiting to publish the winners news here!
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