Qualcomm Ventures offers $500000 in business plan competition
By Daniel, June 3rd, 2009I just received an email from InvestICT about an interesting business plan competition run by Qualcomm Ventures. Please note that the competition is only open for companies that have not received VC-funding.
Qualcomm Ventures is promoting the “QPrize™” a series of international business plan competitions designed to provide over $500,000 in early stage capital for enterprising technology companies. The competition is open to entrepreneurs located throughout the world and will feature semi-final events in key locations where Qualcomm Ventures has active investment offices. Qualcomm Ventures will select one semi-finalists for each of the four contest markets: China, Europe, India and North America. These four semi-finalist will each receive $100,000 (USD) of convertible note funding from Qualcomm Ventures and will be invited to the Qualcomm Ventures CEO Summit in San Diego, Calif. to compete for the Grand Prize. The grand prize winner will receive an additional $150,000 (USD) of convertible note funding, for a total prize of $250,000 (USD) in venture financing. To view the FAQs for the competition click here.
For more information, check out InvestICT and Qualcomm web sites.
June 11th, 2009 at 10:07 pm
These “competitions” are becoming a bit boring.
The organizer gets free publicity and tries to appear some sort of benefactor while they do what they would be doing anyway — looking at business plans and funding good startups. Plus the package is pretty underwhelming: you get all of $ 250 k in apparently plain vanilla VC funding.
Sheesh…