Now then, attention all startups, Qualcomm’s QPrize team are now ready to accept submissions. This is a simply fantastic opportunity to add a good amount of resource to your coffers. Indeed, just being involved is most certainly worth the effort because of the networking! Although the winning is good, I know a few companies who have done some good business as a result of just being being able to chat with Qualcomm’s QPrize team.
So, here are the details:
QPrize is aimed at the mobile industry’s most promising early-stage technology companies and is open to entrepreneurs from six different markets from over the world, of which Europe is one. The prize is up to US$750,000 in total seed funding. From the pool of competing entries, Qualcomm will select up to six finalists from the six contest markets (North America, Europe, China, South Korea, Israel and India).The finalists will each receive US$100,000 (€100,000 in Europe) of convertible note funding from Qualcomm. The grand prize winner will receive an additional US$150,000 of convertible note funding, for a total prize of US$250,000 in venture financing.
The deadline for business plan submissions is December 14, 2010 and entrants’ submitted business plans are 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.
More info on the competition can be found here: www.qprize.com. Get stuck in!