Qualcomm’s QPrize 2012: Your chance to win USD 150K funding

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.

Qualcomm Ventures started operations in India in 2007, and has  invested in 8 companies so far; Apalya, Capillary Technologies,  MapMyIndia, Onward Mobility, Reverie Language Technologies, Tessolve and Kirusa to name a few. More information available at www.qualcommventures.com

QPRIZE 2012 is the third edition of seed investment competition by Qualcomm’s Ventures. The QPRIZE competition was first launched in 2009 to promote innovation in the technology industry and is designed to identify the industry’s most promising early-stage technology companies. The competition acts as a catalyst for entrepreneurs and provides the winners their first level of funding so they can launch their ideas and support the company to transform into a successful start-up business. QPRIZE is a global competition that funds eight regional winners (Brazil, China, India, Israel, North America, South Korea, Western and Eastern Europe) and exposes them to a global audience.

The QPRIZE 2012 was announced in India on May 17th and the Registration line (at www.qprize.com) is now open inviting startups to send in their applications. From the pool of competing entries, Qualcomm Ventures will select one winner of the QPRIZE India competition who will receive US$100,000 of convertible note funding from Qualcomm Incorporated. The QPRIZE 2012 India winner will then be eligible to compete against other regional finalists in the QPRIZE Grand Finale competition for an additional US$150,000 in convertible note funding. Entrants’ submitted business plans will be evaluated by a panel of experts based on the merits of the technology innovation, its market potential, the company’s management capabilities and the attainability of the proposal’s financial projections. Additional details, including candidate eligibility and submission guidelines, are available at www.qprize.com. Deadline for submission of business plans is August 17, 2012.