Qualcomm Incorporated (NASDAQ: QCOM), through its venture investment group, Qualcomm Ventures, today announced the winner of its fifth QPrize™ competition, the company’s international seed investment competition. Toss Lab, Inc., a Korean company, took top honors against tough competition from seven other regional winners representing Australia, China, Europe, India, Israel, Latin America and North America.
Toss Lab is an enterprise software provider that is creating next-gen collaboration tools for companies across Asia. The company previously won the QPrize competition’s regional Korean competition. As the QPrize Grand Finals winner, Toss Lab will receive US$250,000 in convertible note funding from Qualcomm to grow their business.
“QPrize offers early stage seed funding to tech entrepreneurs from around the world. Now in its fifth year, QPrize has been a very successful program for both Qualcomm Ventures and the companies that have been selected as finalists and winners,” said Nagraj Kashyap, senior vice president of Qualcomm Ventures. “QPrize finalists have raised more than $228 million collectively over the years and two past winners, Divide and iOnRoad, were acquired by Google and Harman respectively. We are consistently impressed at the diversity of ideas we see across numerous industry verticals and this program offers us a front row seat to new innovations in the mobile ecosystem. We congratulate Toss Lab, Inc. for winning the QPrize Grand Finals and look forward to working with them to grow their business and enhance their industry presence.”
Companies competing in the Grand Finals regional QPrize competition included:
Kindy - Australia
Kindy lets you find, book and pay for the best pre-screened local nannies and babysitters, right on your phone.
Vitamin Garden - China
Vitamin Garden is applying cutting edge technology to the art of urban vegetable gardening.
Memed – Latin America
Memed is a free online tool exclusively for doctors. Users can get up-to-date information about any drug available for purchase in Brazil, enabling faster and safer patient prescriptions.
MyPoolin - India
MyPoolin is a peer-to-peer and group payment social network that allows friends to easily plan and pool money for activities listed on the company’s merchant list.
Splacer - Israel
Splacer is a community platform that connects unique space owners with people who are looking to create special event experiences.
teaBOT – North America
teaBOT has developed a specialized robot that can create customized cups of fresh tea for customers at the touch of a button.
Fotokite - Europe
Fotokite is a tethered, flying camera designed for reliable, safe flight and aerial filming use cases.
More information on Toss Lab, Inc. is available at the company’s website: www.jandi.com. The fifth annual QPrize competition provides over $2 million in funding for the entrepreneurs of today as they work to bring their ideas to consumers. Additional details on the QPrize competition can be found at 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.