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Qualcomm Ventures launches fourth annual startup competition

Qualcomm Ventures has today launched its QPrize competition, aimed at early-stage technology startups throughout the world.

Open to entrants from China, Europe, India, Israel, Korea, South and North America, the competition seeks to identify and fund the industry's "next promising" companies.

There is a total prize of $250,000 (£153,000) for the eventual winner, with regional winners each scooping $100,000 (£61,000) in convertible note funding.

"As a leading industry enabler, Qualcomm is committed to fueling innovation and driving cutting-edge technologies into the entire wireless ecosystem," said Nagraj Kashyap, senior vice president of Qualcomm Ventures.

"The QPrize competition allows us to take a look at very early stage companies in key regions throughout the world and fund the next wave of up and coming innovators."

The deadline for startups to submit their proposals is April 18, with finalists from each region then selected to compete against each other in a final.

"Last year's entrants redefined the capabilities of mobile technology, which was showcased when the Grand Finals winner, iOnRoad, was acquired less than 30 days after the Grand Finals," Kashyap said.

"QPrize acts as an important validation point for many of these startups, and we look forward to fostering the development and leveraging the QPrize brand to further raise awareness of these breakthrough technologies."

Since the prize launched in 2009, Qualcomm claims that over $350 million (£214 million) has been raised by all QPrize winners and finalists, with 38 per cent of QPrize winners in 2013 going on to secure Series A funding.