Qualcomm Announces Finalists in QPrize Business Plan Competition
Qualcomm - QPrize Business Plan Competition
SAN DIEGO — Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator of advanced wireless technologies, products and services, today unveiled its regional finalists in Qualcomm Ventures’ QPrize(TM) international business plan competition. The four early-stage companies representing Europe/Israel, China, India and North America stood out among a pool of competitors to each receive US$100,000 in venture financing to grow their businesses. As finalists, the companies will now advance to the final round of competition to compete for the Grand Prize of an additional US$150,000 in funding. The QPrize Finals will take place at Qualcomm Ventures’ CEO Summit, November 3, 2009 in San Diego.
In a series of regional QPrize competitions, business plans submitted by entrant companies were evaluated based on product innovation, financial viability and the strength of management teams. The four regional finalists were selected by diverse judging panels consisting of independent venture capitalists, QPrize sponsors and Qualcomm Ventures investment managers.
“Entrepreneurship is the engine driving new technical breakthroughs and business models that are transforming various industries through the use of mobile technologies,” said Nagraj Kashyap, vice president of Qualcomm Ventures. “These four QPrize finalists are bringing new capabilities to market and show great potential to truly impact their competitive landscapes. We congratulate these companies on their achievements.”
Europe/Israel Region:
– Panoramic Power
Panoramic Power has developed a family of wireless sensor products
that give enterprise customers the ability to deploy Smart Grid
technologies within their existing facilities. The company’s
sensors accurately measure power consumption at the individual
circuit level and are designed to be small, non-obtrusive and
maintenance free.
www.panpwr.com
China Region:
– Cootek
Cootek has developed TouchPal, an innovative user interface for
touchscreen mobile devices that effectively makes typing easier and
more accurate. TouchPal utilizes a prediction engine that can
contextually determine word sequences, greatly improving mobile
search capabilities. The company has licensed its TouchPal software
to several carriers and handset manufacturers.
www.cootek.com
India Region:
– Capillary Technologies
Capillary Technologies provides an end-to-end mobile CRM platform
and mobile marketing services to a variety of retail companies in
the Indian market. The company has successfully deployed its
products in more than 400 stores in 75 cities throughout India.
www.capillary.co.in
North America Region:
– txt.eagle
txt.eagle has developed a mobile crowd sourcing platform that
enables mobile phone subscribers to earn small amounts of money or
airtime by completing simple tasks for corporate clients. The types
of tasks range from translation and image tagging to market research
surveys. Most txt.eagle tasks are text-based and can be completed
via SMS or WAP sessions.
www.txteagle.com
The 2009 Qualcomm Ventures QPrize competition provides US$550,000 in total seed funding to help entrepreneurs transform their innovative business plans into reality. Additional details on regional finalists and the Grand Prize event is available at www.qprize2009.com.
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