Qualcomm Incorporated (NASDAQ: QCOM), through its venture investment arm, Qualcomm Ventures has announced the fifth edition of its coveted QPrize™ International Seed Investment competition. Qualcomm Ventures has been investing in promising startups since its inception in 2000. They have scripted several success stories like Fitbit, PayPal, Waze, and Capillary among others.
The goal of QPrize 2015 is to identify and fund promising, early-stage, technology companies. Seven regional winners from China, Europe, India, Israel, Korea, Latin America and North America will compete for the international prize which is an additional funding of US$250,000. The total prize money up for grabs is $2 million across the seven regions. This prize is to help transform the winning company’s vision into reality.
The Indian winner of QPrize will receive $250,000 while the runner-up will receive $100,000. 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. Since its launch, QPrize winners all across the globe have collectively raised more than $238 million in total venture funding.
Applicants for the QPrize 2015 will be evaluated on following criteria:
● Companies with less than $2Million in funding and 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
If you have an excellent business idea and are looking for early-stage financial support, then get ready for the Qualcomm Ventures’ QPrize. Continuing the partnership from last year, Accel Partners has joined hands with QPrize 2015 to support promising ventures in their journey to achieve global success.
“We are really excited to bring back our partner from the last edition of QPrize, Accel Partners. Their participation in QPrize will continue to support and fuel innovation and is a great boost to the startup ecosystem in India,” Karthee Madasamy, Vice President & Managing Director of Investments for India, Qualcomm Ventures, said.
Capillary Technologies won the Qualcomm Ventures International Business Plan competition - QPrize India, in 2009, receiving $100,000 as seed money. Aneesh Reddy, Co-founder & CEO of Capillary Technologies, says, “This achievement made a great contribution to the Capillary success story. The media buzz surrounding the win made us a (tech) household name. Our confidence levels got a big boost. Something changed in the way we approached prospective customers, investors, advisors and recruits. And they responded differently as well. Becoming Qualcomm’s chosen one reinforced the market’s early confidence in Capillary. Winning helped us attract talent more easily and we were able to bring on board smart minds, both as employees and consultants, to build the company.”
QPrize 2014, India was won by Demach Software India Private Limited while Mavin Technologies Private Limited was the runner up.
Submissions must be received by July 17, 2015.
To submit your business plan for the QPrize, visit here now.