Company Earns US$250,000 in Venture FundingSAN DIEGO
Qualcomm Incorporated (NASDAQ: QCOM) today announced the winner of the second annual Qualcomm Ventures QPrize™ international venture investment competition at the DEMO Spring 2011 conference. Enterproid, a U.S. company, took top honors against tough competition from five other regional winners representing Europe, China, Korea, Israel and India.
The company previously won QPrize’s North America regional competition and was awarded US$100,000 in venture financing to cultivate their business. As the QPrize Grand Prize winner, Enterproid will receive an additional US$150,000 in convertible note funding from Qualcomm and the opportunity to pitch their company and business plan to a diverse audience of venture capitalists, press, bloggers and potential partners at DEMO Spring.
Enterproid is a startup focused on helping businesses open up a broader, more functional set of mobile devices to their employees without sacrificing enterprise-grade security and control. The company’s core product combines a cloud-based management engine with deep on-device technology that enables professionals to consolidate their work and personal lives on to a single device.
“This year’s QPrize finalists demonstrated convincingly that the future of mobile entrepreneurship is not rooted in any specific country or region – it is worldwide,” said Nagraj Kashyap, vice president of Qualcomm Ventures. “We congratulate Enterproid on their exceptional achievement and look forward to helping them expand their business opportunities and market presence. We also want to congratulate the five other regional winners — Cambridge Temperature Concepts, Corrigon, Ji Ke, Kiwiple and Reverie Language Technologies — who have each received US$100,000 (€100,000 in Europe) in venture financing from Qualcomm.”
More information on Enterproid is available at the company’s website: www.enterproid.com.
The second annual Qualcomm Ventures QPrize competition provides US$750,000 in total seed funding for the entrepreneurs of today as they work to bring their ideas to market, this is an increase of US$200,000 from 2010. Additional details on regional finalists and the Grand Prize event are available at www.qprize.com.
About Qualcomm Ventures
Qualcomm Ventures, the venture investment group of Qualcomm Incorporated, was launched in the United States in November 2000 with an initial US$500 million allocation. Qualcomm Ventures’ aim is to support Qualcomm’s mission of enabling and fostering 3G and wireless Internet markets through investments in privately owned startup ventures. These investments include companies focusing on wireless communication technologies and products serving consumer, enterprise and vertical markets worldwide. For more information, please visit www.qualcomm.com/ventures.
Qualcomm Incorporated (NASDAQ: QCOM) is a world leader in 3G and next-generation mobile technologies. For 25 years, Qualcomm ideas and inventions have driven the evolution of wireless communications, connecting people more closely to information, entertainment and each other. Today, Qualcomm technologies are powering the convergence of mobile communications and consumer electronics, making wireless devices and services more personal, affordable and accessible to people everywhere. For more information, please visit Qualcomm around the Web:
Corporate Blog: www.qualcomm.com/blog
Qualcomm is a registered trademark and QPrize is a trademark of Qualcomm Incorporated. All other trademarks are the property of their respective owners.
February 28, 2011
February 28, 2011