Qualcomm Venture’s will now accept applications under its Business Plan Competition till August 21, 2009. The company has also announced increasing the Prize amount.
“It is a testimony to the mobile industry’s spirit of entrepreneurship that since we announced the competition in May, we have received a number of creative ideas from around the world,” said Nagraj Kashyap, vice president of Qualcomm Ventures. “We are extending the entry deadline to allow additional entrepreneurs to take advantage of the expanded benefits of the program through our collaboration with GSMA.”
The competition is open to entrepreneurs in North America, Europe, China and India and promises to provide up to $ 550,000 in total seed funds to the selected entrepreneurs. Business plans from the wireless industry need to be focusing on areas such as Consumer/enterprise applications and services, Communication devices, Semiconductor and component technologies, Mobile platforms, Digital media and content, Healthcare technologies and services and CleanTech.
Qualcomm will select one finalist from each of the markets with each set to receive $ 100,000 in form of convertible note funding with the Grand Prize winner to receive additional $ 150,000.