Are you working on the brightest business ideas and looking for early-stage financing support? Then, gear yourself up for the Qualcomm Venture’s QPrize. The global seed funding competition has just thrown open its fourth edition for startups in India. And this time, the QPrize has gotten bigger and more exciting with Accel Partners, Persistent and One97 joining hands with Qualcomm to support promising ventures in their journey to achieve global success. The total prize money this time amounts to US$250K. This year – instead of one India winner there will be four winners: Overall India winner will bag a prize of US$125K, the second winner will get US$75K. Apart from them, two more startups will receive US$25K each from Persistent and One97.
“We are really excited to bring in new partners – Accel Partners, One97 and Persistent. Their participation in QPrize will provide the much needed support in fuelling innovation and is a great boost for the startup ecosystem in India,” Karthee Madasamy, Managing Director of Investments for India and Israel, Qualcomm Ventures, said.
“At Accel, we have partnered with some of the best seed and early-stage technology companies from India since 2005, including Flipkart, Freshdesk, Mu-Sigma, Myntra, Perfint, Virident and so on. Many of them have since emerged as category leaders. Likewise, QPrize has successfully identified several high quality early-stage companies. We are excited to work with Qualcomm on this initiative,” said Subrata Mitra, Partner at Accel Partners.
“Winning QPrize was the startup equivalent of getting the golden ticket in Willy Wonka & the Chocolate Factory! It was a life-changing event that paved the way for us to take a fledgling experiment and scale it out to a legitimate business,” said Sumanth Raghavendra, Founder, Deck App (QPrize 2012 winner).
Qualcomm Ventures has been investing in innovative and cutting edge startups since its inception in 2000. They have scripted several success stories, including PayPal, Waze, Invensense and NQ mobile.
Applicants for the QPrize 2014 will be evaluated on following criteria:
- Companies with less than $2M in funding with no institutional money
- Company`s market potential
- Team’s management capabilities
- Innovative and cutting-edge technology products and services
- Attainability of the proposal’s financial projections
So, if you are an early stage company and believe you have what it takes to take your venture to the next level, here is your opportunity.
Submit your business plan for the QPrize here – www.qprize.com