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January 8, 2010

OPK unveils $1m Growth Economy Venture Challenge (video)

OPK-CES-2010LAS VEGAS, USA – Yesterday we brought you first details on the launch of the Calling All Innovators 2010 competition (read the full story). This morning, speaking at the CES 2010 show here in Las Vegas, Nokia CEO, Olli-Pekka Kallasvuo, followed up by unveiling an exciting new strand of the competition, dubbed the Growth Economy Venture Challenge. Read on to get the full lowdown and to watch our video of OPK announcing the news during his keynote speech at CES 2010.

The Venture Challenge has been designed to inspire innovators to create a mobile product or solution that will enhance the lives of people in growth economy countries, and will see Nokia invest one million dollars (USD) in a single winning organization with the best idea – one of the key criteria being that the idea be designed for places where the average daily income is less that US$5 a day. Another particularly interesting and encouraging aspect of the Venture Challenge project is that this investment prize isn’t limited to software or hardware that uses Nokia devices or software platforms.

Here’s what OPK had to say about it in his keynote speech at CES 2010 – watch our video of the announcement…

Alongside this one million dollar investment prize, Nokia will also offer innovators business guidance and help them possibly pursue further investment from other venture capitalists.

The best idea will be judged by Forum Nokia and Nokia Growth partners – the deadline for submissions is April 18, 2010, with Venture Challenge finalists announced by mid May 2010. The winner will be announced in June 2010.

Find out more by visiting the Calling All Innovators site and share your thoughts about the Growth Economy Venture Challenge in the comments section below.