Nokia opens global challenge for innovative IoT startups

Nokia in partnership with private venture firm Nokia Growth Partners has announced the launch of the Nokia Open Innovation Challenge. The challenge will focus on startups addressing internet-of-things (IoT) solutions for smart cities, mobility as well as safety and security.

Submissions for the global competition opened 8 June and close on 20 September. Once selected, startups will attend a two-day “concept development workshop” with industry experts in Helsinki, Finland in November.

The final competition will take place immediately after the workshops where startups will compete for access to Nokia’s global market, investment opportunities, as well as co-innovation and joint business opportunities.

“Co-innovating in an open ecosystem with start-ups and large tech companies in a healthy balance is so essential,” said Kathrin Buvac, chief strategy officer of Nokia in a press release.

‘Fantastic opportunity for innovators, entrepreneurs to join Nokia’

“The Nokia Open Innovation Challenge is a fantastic opportunity for innovators and entrepreneurs to join us as we embrace the challenge of creating technology to serve the growing needs for the Internet of Things,” continued Buvac.

Startups wanting to apply need to have ideas and solutions affecting people’s lives for the better as well as display a working prototype of their product.

Entrepreneurs looking to enter need to be involved in the following:

• Creating solutions to improve cities by solving urban challenges.
• Improving safety through technology.
• Solutions or products that improve the way residents interact with their daily lives through virtual reality and machine interactions.
• Improving health with digital technology.

“The Nokia Open Innovation Challenge is a celebration of entrepreneurship and innovation in IoT as well as a fantastic opportunity to partner with a large technology corporation. We have sponsored the initiative for four years now because we always meet interesting companies through the challenge,” said Bo Ilsoe, partner of Nokia Growth Partners.

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