What does your business have in common with Qualcomm? Well if you ask them, the answer is simple: just about everything.
Proving that they’re more than a bold statement, Qualcomm Ventures (the investment arm of Qualcomm, Inc.) has launched their 4th annual seed investment competition, QPrize. Open to entrepreneurs across China, Europe, India, Israel, Korea, Latin America and North America, the goal of the contest is to identify and fund the industry’s next promising, early-stage technology companies. A goal that in the words of Qualcomm’s senior vice president, Nagraj Kashyap has, “Allowed us to take a look at very early stage companies in key regions throughout the world and fund the next wave of up and coming innovators.”
Proof of the opportunity at hand, last year’s Grand Finals winner, iOnRoad, was acquired less than 30 days after the finals. While EcoATM (one of the top finalists in Qualcomms’ North American competition) was acquired by Outerwall (fka CoinStar) for $350M last summer.
A fast and painless process that could be the big break your company needs, all you need to do to tap into this funding arm is apply online and upload a pdf copy of your current VC pitch deck or business plan. It’s that simple.
With one finalist from each of the regions listed above walking away with $100K in convertible note financing before receiving a chance at $250K, only one question remains: what are you waiting for?
The deadline to submit business plans is April 18, 2014.