Announcing the Growth Economy Venture Challenge today at the conclusion of his keynote at CES, Nokia CEO Olli-Pekka Kallasvuo called on innovators to do good by bringing mobile solutions to parts of the world that can benefit most. At the same time he explained that mobile solutions can be quite profitable, but not exploitive, leading to financial "win-win" scenarios for both innovators and consumers.
"We've seen what the tech community can do when it focuses on problems that are also opportunities", Kallasvuo said. "We want to channel that energy toward improving lives in the developing world."
The Venture Challenge will consider any submission that enhances the
target growth economy and also provides a potential return on the investment.
The Venture Challenge is not limited to software or hardware that uses Nokia
device or software platforms. In fact, as many emerging markets have varying
degrees of mobile and Internet adoption, submissions can also expand beyond
the mobile phone. As examples of innovations in growth economies, Olli-Pekka
Kallasvuo spoke about several Nokia solutions and projects such as
The million dollars will be invested in a single winning organization with the best idea as decided by a combination of judges from Nokia Growth Partners, Nokia's venture arm, and Forum Nokia, Nokia's organization dedicated to 3rd party developers and other innovators. Through Nokia Growth Partners and Forum Nokia, Nokia offers developers and innovators potential funding, expert technical support and marketing programs designed to assist and promote 3rd party activities on Nokia platforms.
Additionally, ten finalists will be invited to present their ideas and business models to a panel of Nokia business people and private venture capitalists. This provides an opportunity for the innovators to receive business guidance and possibly other funding from participating venture capitalists.
The Venture Challenge finalists will be announced by mid
Interested innovators can learn more and enter their submissions at http://www.callingallinnovators.com.
About Nokia Growth Partners
Nokia Growth Partners is a leading global growth stage venture firm
focused on mobile technology, services and media. Nokia Growth Partners is
funded by Nokia to provide superior returns and investments into companies,
firms, and people that are changing the face of mobility, communications, and
the internet. Nokia Growth Partners works closely with the promising
companies adding value through deep domain expertise and network in the
mobility market combined with many years of venture investment experience.
Nokia Growth Partners offers companies in which it invests a global
engagement model through its presence in the U.S.,
About Forum Nokia
Nokia's global developer program, Forum Nokia connects developers to
tools, technical information, support, and distribution channels they can use
to build and market applications around the globe. From offices in the U.S.,
Nokia is a pioneer in mobile telecommunications and the world's leading maker of mobile devices. Today, we are connecting people in new and different ways - fusing advanced mobile technology with personalized services to enable people to stay close to what matters to them. We also provide comprehensive digital map information through NAVTEQ; and equipment, solutions and services for communications networks through Nokia Siemens Networks.
SOURCE Nokia Corporation