Qualcomm Ventures has launched the fourth edition of its annual startup competition, Qualcomm QPrize.
The competition will allow seven startups from seven regions across the globe a chance to win $100,000 in seed investment from the venture investment arm of Qualcomm Incorporated. The Grand Finals will award the winner an additional $150,000.
Qualcomm Ventures will have a panel of judges assess a startup’s business plan, technology innovation, market potential among other criteria before deciding on the regional winners.
Startups from China, Europe, India, Israel, Korea, Latin America and North America are eligible to participate in the QPrize competition. The $100,000 in convertible notes will be awarded to one finalist from each of these regions. The additional $150,000 in convertible notes will be given to the winner of the Grand Finals where all the regional finalists will compete.
In its previous edition, an Israeli vehicle safety startup, iOnRoad had won the seed investment of $250K. The startup was acquired by American audio and infotainment company, Harman International less than 30 days after the Grand Finals.
Competing against iOnRoad from India was presentation app startup – Deck App Technologies. India has been eligible to participate in the QPrize ever since the competition was launched in 2009.