Qualcomm Ventures, which started its India operations in 2007 and has invested in 8 companies so far; Apalya, Capillary Technologies, MapMyIndia, Onward Mobility, Reverie Language Technologies, Tessolve and Kirusa etc has launched 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. Interested startups can apply here.
[Qualcomm is a sponsor at Pluggd.in]