Tell Us Your $1 Million Idea
Nokia’s Calling All Innovators competition has always been about trying to find the best big ideas for mobile applications from developers around the world. This year, Nokia is taking that desire to find big ideas to a whole new level. We’re looking to invest in an idea that is worth $1 million!
Nokia’s Growth Economy Venture Challenge will provide a venture capital investment in the winning proposal of $1 million (USD). Bear in mind, this is not a gift, grant or prize. It’s an investment aimed at creating a strong, vibrant business that will also improve people’s lives.
We’re looking for one idea that stands above all the rest.
- An idea that could truly change the way people use Nokia mobile devices.
- An idea that demonstrates how mobility improves the lives of millions of people in emerging markets worldwide.
- An idea that recognizes a good business opportunity can also contribute to "doing good" – and making a dramatic difference in the lives of people in developing nations.
There can only be one winner in this competition, but the winning idea will make people stand up and take notice. And let’s be clear, this Venture Challenge is about more than just mobile apps. The winning idea might be hardware, software, or a new service opportunity.
As Olli-Pekka Kallasvuo, Nokia President and CEO, stated during his keynote address at CES in Las Vegas: "We are challenging developers and innovators around the world to take action. We want you to come up with new and innovative ways to help people and promote upward mobility around the world."
Criteria for the winning proposal
The winning proposal in the Growth Economy Venture Challenge will meet the following criteria:
- It must include a clear mission statement; and provide a product or service plan that will undeniably raise the standard of living, and/or enhance the lives of people living in emerging market countries today.
- The initial target market must be located in a region with per capita income significantly lower than what is found in industrialized nations today (e.g., sub-$5 per day).
- It must include a viable business model that has a high likelihood of providing a strong return on investment for the venture funding provided.
Download and complete this application form. Then
submit your proposal to Nokia’s Growth Economy Venture Challenge.
Submissions for this unique investment opportunity will be accepted through 11:59 pm PST Sunday, 18 April, 2010. The winner will be announced in June of 2010 at a to-be determined venue on a to-be announced date.
For more information, see the complete Rules for the Venture Challenge.
Want sources of inspiration for your own ideas?
Take a look at the Progress Project, where Nokia and Lonely Planet are showing the world how mobility is connecting people to what matters. For instance, Nokia Tej in Kolhapur, India, is demonstrating how mobile phones can be used to increase sales efficiency and productivity in the textile industry.
Another excellent example is Nokia Life Tools, which is helping farmers in places like Maharashtra, India, to use their mobile phones to get the latest market prices for their crops, as well as weather forecasts and governmental advice on modern farming techniques.
