Telecommunications, information technology, and consumer electronics company, Nokia in partnership with NGP Capital is seeking entries from impactful startups that have innovative technologies, products, and solutions for its innovation Challenge for a chance to win up to $175,000. The focus of this year’s competition is industrial automation and the industrial Internet of Things (IoT) domain.
The winners will be given access to Nokia Bell Labs research & development resources, as well as opportunities to grow their businesses through joint partnerships with Nokia.
The Nokia Open Innovation Challenge (NOIC) is now in its sixth year and its the goal is to connect the world through innovations that shape the future of human collaboration, communication, connection, and control.
Cash prize
NOIC Executive Jury will have the power of discretion to allocate the cash prize to the best fitting submission or submissions.
- 100K$ 1st place
- 50K$ 2nd place
- 25K$ 3rd place
Evaluation criteria
- Innovativeness, feasibility, and scalability of the idea according to the category requirements and examples of Industrial IoT.
- Submissions will be assessed considering the joint business potential as well.
Opportunities
- Co-innovation and joint business opportunities
- Business and technology boost by accessing Nokia’s technologies, products, and resources
- Access to Nokia’s global market
- Investment opportunities
Themes
- Industrial IoT
- Next generation private networks for industrial internet
Subthemes
- Digital manufacturing and utilities
- Digital site
- Digital mobility & transportation
- Digital cuties
- Digital life
- Automation & augmented intelligence
Commenting, Marcus Weldon, President of Nokia Bell Labs and CTO of Nokia, said, “We’re excited to open this year’s NOIC with a focus on industrial automation. This is a tremendous opportunity for startups and entrepreneurs to work alongside Nokia Bell Labs researchers and others in Nokia to bring their ideas to life. Our team looks forward to working with competition winners to help create new technologies that will create unparalleled increases in efficiency through augmented intelligent devices, systems, platforms, and applications.”
For NGP Capital’s Bo Ilsoe, He said: “We continue to champion this initiative by sponsoring it for the fifth year in a row. It’s a great way for us as investors to meet the best new companies in each challenge category and for Nokia to find new external partners. I am looking forward to seeing the innovation this year’s competitors bring.”
Startups accepting the challenge can submit their ideas now through September 6, 2018. An international jury will then select the most advanced and innovative candidates to present their products or solutions at a final event to be held in early December at Nokia Bell Labs’ headquarters in Murray Hill, New Jersey.
Click here to apply.
