Nokia launches a million dollar venture challen...
NOKIA / Nokia launches a million dollar venture challenge to encourage innovators to "do good" in growth economies processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Nokia CEO Kallasvuo says mobile solutions in parts of the world that can benefit
the most are not only needed, but can also be profitable
Las Vegas, NV, USA - Good ideas are a dime a dozen, or so the saying goes. But
now a single good idea could be worth a million dollars (USD). Nokia has
announced a million dollar venture challenge to encourage innovators to create a
mobile product or service that raises the standard of living or enhances the
lives of those in growth economies. The Growth Economy Venture Challenge is part
of Nokia's global Calling All Innovators competition announced on January 7 at
the Consumer Electronics Show (CES).
Announcing the Growth Economy Venture Challenge today at the conclusion of his
keynote at CES, Nokia CEO Olli-Pekka Kallasvuo called on innovators to do good
by bringing mobile solutions to parts of the world that can benefit most. At the
same time he explained that mobile solutions can be quite profitable, but not
exploitive, leading to financial "win-win" scenarios for both innovators and
consumers.
"We've seen what the tech community can do when it focuses on problems that are
also opportunities", Kallasvuo said. "We want to channel that energy toward
improving lives in the developing world."
The Venture Challenge will consider any submission that enhances the target
growth economy and also provides a potential return on the investment. The
Venture Challenge is not limited to software or hardware that uses Nokia device
or software platforms. In fact, as many emerging markets have varying degrees of
mobile and Internet adoption, submissions can also expand beyond the mobile
phone. As examples of innovations in growth economies, Olli-Pekka Kallasvuo
spoke about several Nokia solutions and projects such as Nokia Life Tools, Nokia
Tej and others that can be viewed at
http://theprogressproject.com/.
The million dollars will be invested in a single winning organization with the
best idea as decided by a combination of judges from Nokia Growth Partners,
Nokia's venture arm, and Forum Nokia, Nokia's organization dedicated to 3rd
party developers and other innovators. Through Nokia Growth Partners and Forum
Nokia, Nokia offers developers and innovators potential funding, expert
technical support and marketing programs designed to assist and promote 3rd
party activities on Nokia platforms.
Additionally, ten finalists will be invited to present their ideas and business
models to a panel of Nokia business people and private venture capitalists. This
provides an opportunity for the innovators to receive business guidance and
possibly other funding from participating venture capitalists.
The Venture Challenge finalists will be announced by mid May 2010. The final
winner will be announced in June, 2010. The deadline for submissions is April
18, 2010.
Interested innovators can learn more and enter their submissions at
www.callingallinnovators.com <
http://www.callingallinnovators.com/>.
About Nokia Growth Partners
Nokia Growth Partners is a leading global growth stage venture firm focused on
mobile technology, services and media. Nokia Growth Partners is funded by Nokia
to provide superior returns and investments into companies, firms, and people
that are changing the face of mobility, communications, and the internet. Nokia
Growth Partners works closely with the promising companies adding value through
deep domain expertise and network in the mobility market combined with many
years of venture investment experience. Nokia Growth Partners offers companies
in which it invests a global engagement model through its presence in the U.S.,
Europe and Asia. For more information visit: www.nokiagrowthpartners.com
<
http://www.nokiagrowthpartners.com/>.
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 and business
development support to developers and operators to assist them in achieving
their goal of successfully launching applications and services to consumers and
enterprises. More information is available at www.forum.nokia.com
<
http://www.forum.nokia.com/>.
About Nokia
Nokia is a pioneer in mobile telecommunications and the world's leading maker of
mobile devices. Today, we are connecting people in new and different ways -
fusing advanced mobile technology with personalized services to enable people to
stay close to what matters to them. We also provide comprehensive digital map
information through NAVTEQ; and equipment, solutions and services for
communications networks through Nokia Siemens Networks.
Media Enquiries:
Nokia
Communications, America
Tel. +1Â 914Â 368 0423
Email: communication.corp@nokia.com
Nokia
Communications
Tel. +358 7180 34900
Email: press.services@nokia.com
www.nokia.com <
http://www.nokia.com/>
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