Qualcomm Incorporated (NASDAQ: QCOM), through its venture investment arm Qualcomm Ventures, commenced today the company’s annual QPrize™ 2015 international seed investment competition. The competition aims to identify and provide seed funding into early-stage companies with unique and promising wireless technologies. Entrepreneurs in countries or regions that include Australia, China, Europe, India, Israel, Korea, Latin America and North America are eligible to apply and participate in the QPrize competition. One finalist from each region will be awarded up to US$250,000 in convertible note financing from Qualcomm as seed funding and will be invited to contend in the QPrize Grand Finals competition against other regional finalists on September 9, 2015. The Grand Finals winner will receive an additional US$250,000 of convertible note financing to aid in converting their business plan into reality.
“We are delighted to announce the launch of our fifth QPrize competition which continues to be a valuable source of initial seed funding to entrepreneurs around the world. This year, we have more than doubled the prize funding available to our winners and added Australia as a new QPrize region,” said Nagraj Kashyap, senior vice president of Qualcomm Ventures. “Since inception, our QPrize winners have collectively raised more than $238 million in total venture funding. We are consistently impressed with the caliber of entrepreneurs who apply and truly inspired with their overall success.”
The deadline to submit business plans is July 10th, 2015. Upon receipt of entries, Qualcomm Ventures will select up to eight finalists from each of the eight regions. The chosen finalists will participate in the regional competition where each of the finalists will have the opportunity to showcase their technology in front of a panel. The panel will evaluate not only the merits of the technology innovation and its commercial potential, but also the company’s leadership capabilities and the attainability of the proposal’s financial projections.
The Qualcomm Ventures QPrize competition is currently accepting entries. To get additional details of the competition, including background information of past winners, rules and regulations, submission guidelines, or to submit your business plan, please visit www.qprize.com.
About Qualcomm Incorporated
Qualcomm Incorporated (NASDAQ: QCOM) is a world leader in 3G, 4G and next-generation wireless technologies. Qualcomm Incorporated includes Qualcomm’s licensing business, QTL, and the vast majority of its patent portfolio. Qualcomm Technologies, Inc., a wholly-owned subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of Qualcomm’s engineering, research and development functions, and substantially all of its products and services businesses, including its semiconductor business, QCT. For more than 25 years, Qualcomm ideas and inventions have driven the evolution of digital communications, linking people everywhere more closely to information, entertainment and each other. For more information, visit Qualcomm’s website, OnQ blog, Twitter and Facebook pages.