Virtual City Ltd receives USD 1 million in Noki...

NOKIA / Virtual City Ltd receives USD 1 million in Nokia's Growth Economy Venture Challenge  processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. 

London, UK - Today at the Nokia Developer Summit, Nokia was proud to announce
Virtual City Ltd, a home-grown Kenyan company, as the winner of the Growth
Economy Venture Challenge. A panel of experts judged their submission - Mobile
Distributor Solution, which supports small and micro enterprises in emerging
markets - to be the worthy winner. John Waibochi of Virtual City Ltd receives a
USD 1 million in venture capital investment and a commitment of support from
Nokia to help turn the idea into reality.

The Mobile Distributor Solution is designed to improve the distribution
efficiencies for small and micro enterprises in the Fast Moving Consumer Goods
market. The solution aims to boost the profitability of small and micro
businesses by increasing the number of transactions as well as improving
inventory management, the accuracy of records, and reporting from the field.

In the Growth Economy Venture Challenge, developers were required to submit
their best idea for a new mobile product or solution designed to improve the
lives of people in the developing world. Judges looked for one idea that has
risen above the rest, an idea that changes the way people use Nokia mobile
devices, demonstrates how mobility can radically improve the lives of people who
reside in areas where the average income is under USD 5 / day, or an idea that
recognizes a good business opportunity that also contributes to "doing good" in
the world.

More information about Forum Nokia's Calling All Innovators and Growth Economy
Venture Challenge, including video demonstrations of the applications, can be
found online at www.callingallinnovators.com.

Note to photo editors
Stephen Elop, Nokia's incoming CEO, closes Nokia World 2010, where the world's
leading mobile phone company introduced a new family of Symbian smartphones and
improved developer tools. Photos will be available
here:

http://www.nokia.com/press/media_resources/photos/events/nokia-world-2010?c
ategory=nw_2010_stephen_elop


About Forum Nokia
Nokia's global developer program, Forum Nokia connects developers to tools,
technical information, support, and distribution channels they can use to build
and market applications around the globe.  From offices in the U.S., Europe,
India, Japan, China, and Singapore, Forum Nokia provides technical business
development to support developers and operators to assist them in achieving
their goal of successfully launching applications and services to consumers and
enterprises.  More information is available atwww.forumnokia.com.

About Nokia
At Nokia, we are committed to connecting people. We combine advanced technology
with personalized services that enable people to stay close to what matters to
them. Every day, more than 1.3 billion people connect to one another with a
Nokia device - from mobile phones to advanced smartphones and high-performance
mobile computers. Today, Nokia is integrating its devices with innovative
services through Ovi (www.ovi.com), including music, maps, apps, email and
more.  Nokia's NAVTEQ is a leader in comprehensive digital mapping and
navigation services, while Nokia Siemens Networks provides equipment, services
and solutions for communications networks globally.



Media Enquiries:

Nokia
Communications
Tel. [phone]
Email: [e-mail]

Nokia, North America
Communications
Tel. [phone]
Email: [e-mail]

www.nokia.com
www.forum.nokia.com



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