QPrize: $750,000 Seed Fnding Competition

Qualcomm ventures has launched "QPrize" a business plan competition to support international entrepreneurship. This is the second edition of "QPrize" ie. QPrize-2010. QPrize is an initiative by qualcomm ventures to identify, strengthen and promote your business ideas (based on wireless technology only) while in the concept stage.

QPrize competition is open to entrepreneurs in India, North America, Europe, Israel, south korea and China and will provide $750,000 in total seed funding to help entrepreneurs transform their business plan in reality.

India regional winner will get a prize money money of 100,000$ and will also get chance to compete with other regional winners.

Timelines :

• December 14th,2010 - Deadline for submitting completed business plans
• January 15th, 2011 - Event to pick India region winner
• March 1st and 2nd, 2011 - Grand Finals in California

The India regional winner for QPrize - 2009 was "Capillary Technologies", an IIT Kharagpur incubated company from Bangalore, Capillary technologies provides mobile based loyalty programs for retailers. Their first product, "In Touch", is an SMS based loyalty program with analytics for retailers, with analytics on the web, as well as campaign management and messaging tools. They also provide SMS based event management for Events, College Festivals and Conferences, with registration, games, quizzes, schedule and event information.

Qualcomm Ventures (QCV) was formed and began funding in 2000, with a $500-million fund commitment to make strategic investments in early-stage high-technology ventures. Since then, QCV has funded numerous companies in the wireless sector, and set up several exclusive regional funds to spur development in key strategic markets, including a $60-million fund in Korea, a $30-million fund in Japan, a $100-million fund in China and euro 100-million fund in Europe.

In India, Qualcomm Ventures has invested in 5 companies –
Kirusa - Product: voice SMS,

MapmyIndia - navigation & mapping
Apalya - Products : TV on mobile
Capillary - Products: customer loyalty and relationship management over mobile
Tessolve - A high-end semiconductor service company

Here is your biggest chance to take you venture to the next stage and increase your visibity among the largest entrepreneurial community. The biggest thing is, this competition is for seed funding so there is no question of any negotiation with any VCs. Grab this opportunity and convert your "on paper ideas" into a reality.

Team GeekOnNet will be providing you all latest buzz of QPrize. For more information visit http://www.qprize.com/

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