Qualcomm Awards $100,000 in Venture Financing to MightyText, Winner of the QPrize 2012 North American Regional Semi-Final Competition
-- MightyText Will Advance to the QPrize Global Grand Prize Final Competition to Compete for its Share of More than $1 Million in Total Venture Funding --
SAN DIEGO, Aug. 31, 2012 /PRNewswire/ -- Qualcomm Incorporated (NASDAQ: QCOM) today announced the North American regional winner of its 2012 QPrize™ venture investment competition. MightyText, based in the Silicon Valley, earned top honors among a field of eight competing North American companies and was awarded $100,000 in venture financing from Qualcomm to help them expand their business. The company was selected based on its product innovation, financial viability and the strength its management team. The victory enables MightyText to move forward in the competition and compete against other regional champions for an additional $150,000 in venture financing in the QPrize Global Grand Prize competition, taking place in the first quarter of 2013 in San Francisco.
MightyText is an Android-based application that enables people to send SMS messages from their computer or any device via the cloud. It syncs directly with the user's Android phone and number, making life easier for people who send and receive text messages and get phone calls while in front of a computer.
"Great ideas and inventions come from people that are willing to defy conventional thinking and take risks to make their vision a reality," said Nagraj Kashyap , vice president of Qualcomm Ventures. "MightyText truly exemplifies the spirit of entrepreneurship. We congratulate them on their impressive accomplishments and look forward to seeing them in the Grand Prize competition."
Companies competing in the North American regional QPrize competition included:
AGOGO Amalgamated Inc.
AGOGO is an on-the-go dashboard that enables you and your connected devices to access the programming you love via web services. AGOGO is easy, smart, personalized and curated, empowering your journey.
Citybot's mobile travel guide helps travelers easily create and optimize personalized intra-day itineraries. The company's flexible Itinerary Engine™ empowers travelers to make informed decisions quickly while picking from thousands of destination activities, and without having to deal with the logistical complexities.
Cloudessa is a cloud network security virtualization platform that solves the problem of authentication, authorization, accounting and access control for enterprises and telecom companies. It is offered as SaaS and is the first product in the space to incorporate OpenFlow software-defined networking technologies.
Everest empowers people to live their dreams. From running a marathon, to traveling the world, to reading more nonfiction, Everest's iPhone app helps people plan their steps, invite friends to take part in the journey and capture moments along the way. Everyone has their Everest – climb yours.
Lighthouse Signal Systems
Lighthouse Signal Systems provides accurate positioning for smartphones and other portable devices in the world's major indoor spaces such as malls, resorts, hospitals, sports venues, and airports.
Syntellia is a new startup formed by young people with multiple successful previous exits. Fleksy is the company's first product – a revolutionary keyboard technology for touchscreens that is so powerful, you can even type without looking.
Ubiqi Health leverages the accessibility of mobile apps and the power of data analytics to help people make informed decisions in managing their chronic conditions. Its tools empower people to be more engaged in their care while helping pharmaceutical companies, payers, and provider organizations drive positive health outcomes for their customers.
The Qualcomm Ventures QPrize competition is open to entrepreneurs across Brazil, China, India, Israel, Korea, North America, Eastern Europe and Western Europe. Additional details on the competition are available at www.qprize.com.
Qualcomm Incorporated (NASDAQ: QCOM) is the world leader in 3G and next-generation mobile technologies. For more than 25 years, Qualcomm ideas and inventions have driven the evolution of digital communications, linking people everywhere more closely to information, entertainment and each other. For more information, visit Qualcomm's website, OnQ blog, Twitter and Facebook pages.
Qualcomm is a registered trademark of Qualcomm Incorporated. QPrize is a trademark of Qualcomm Incorporated. All other trademarks are the property of their respective owners.
Emily Kilpatrick , Corporate Communications
Warren Kneeshaw , Investor Relations
SOURCE Qualcomm Incorporated
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