Qualcomm Incorporated (NASDAQ: QCOM) has launched a competition to identify and fund promising, early-stage technology companies.
The Qualcomm Ventures QPrize competition (http://www.qprize.com) is open to entrepreneurs across China, India, Israel, Korea, North America, Western Europe and Brazil and Eastern Europe.
One finalist from each region will be awarded US$100k (€100,000 for European finalists) in convertible note financing from Qualcomm as seed funding. They will also be invited to compete against other regional finalists in the QPrize Grand Prize competition. The Grand Prize winner will receive an additional US$150k of convertible note funding.
The competition is now open for submissions and the deadline to submit business plans is August 17, 2012.