Nokia, that mobile phone manufacturer that, at a time, made all of us catch cold when it sneezes, has announced it will be giving out €100,000 to winners of the 2016 edition of its Open Innovation Challenge.
This year’s edition of the Nokia Open Innovation Challenge seeks futuristic technologies, the next big ideas and new business models in the Internet of things (IoT) domain.
Specifically, the contest will be focusing on the Internet of Things (IoT) for public safety, connected automotive, industry 4.0, digital health, utilities, security and smart cities.
The finalists of the contest will receive several benefits. These includes acceptance into the Nokia innovation accelerator program, access to the internal and global market of Nokia and investment opportunities from Nokia Growth Partners (NGP) and other venture capital firms.
From the finalists, the top three teams will be selected and they’ll go on to share the incubation prize money of €100,000.
The challenge is open to Innovators, startups or academia from around the world. Applications will open on June 6 and close on August 15, 2016.
The challenge is organized in partnership with Nokia Growth Partners, a Nokia-sponsored global venture capital firm which recently raised a new IoT fund to invest in entrepreneurs and teams with a desire to build a world where everybody and everything is connected.