QPrize™ FAQs
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Entrants must complete all the required fields in the online submittal form and attach a completed copy of their business plan prior to August 21st,2009.
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In the US, the semi-finals will be taking place on September 17th, 2009 at the PlugandPlay Technology Center, 440 N. Wolfe Rd. - Sunnyvale, CA 94085. Regional semi-finals will be held as outlined in the “Timeline” section. The Final event will be held in San Diego, CA on November 3rd, 2009.
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The semi-finals are being held in locations where Qualcomm Ventures has active investment offices. The final is being held in San Diego where Qualcomm is headquartered.
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No, there are no entry fees to participate in this competition. Participants will be responsible for all costs associated with travel and accommodations
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No, it is not possible for Qualcomm to sign an NDA. If there are key pieces of intellectual property that you have concerns about, please exclude these from your presentation and documentation and simply note these areas as trade secrets.
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Qualcomm Ventures has allocated $550,000 to help fund early stage businesses and entrepreneurs located throughout the world. We have four regional semi-finalist competitions taking place in China, Europe, India and North America and the winner in each of these regional competitions will receive $100,000 (USD) of funding in the form of a convertible promissory note. The four semi-finalist winners will be invited to San Diego to compete for an additional $150,000 (USD) of funding, giving the QPrize winner a total investment of $250,000.
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A convertible promissory note is a common debt instrument issued by companies to venture capitalists in early stage funding transactions. Qualcomm Ventures will purchase such notes from the winners of the QPrize competition and convert them to capital stock, concurrent with the company's next institutional round of funding (proceeds from the next round must exceed $500K USD).
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All funds secured through this competition must be used to launch the business idea or expand an existing business.
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Qualcomm Ventures will screen all submitted business plans to ensure compliance and overall strategic investment fit. Our judging panels will consist of a mix of Qualcomm employees, event sponsors and partners.
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Send your inquiry to QVentures@qualcomm.com
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