Nokia launches Open Innovation Challenge

Nokia has launched Open Innovation Challenge for innovative startups focusing on innovative and disruptive solutions for the future of industrial automation.

Winners of this global competition will be provided with up to $175,000 in financial assistance and the opportunity to collaborate with experts from Nokia and Nokia Bell Labs to help grow their businesses and unleash new levels of productivity for the industrial and public sectors.

Open Innovation Challenge seeks startups with disruptive ideas in industrial automation categories such as multi-robot collaboration, VR/ AR driven human augmentation for industrial and enterprise use cases, digital personal assistants in enterprises, human machine/machine human communication technologies, edge computing, and artificial intelligence and related technologies.

Marcus Weldon, President of Nokia Bell Labs and Corporate CTO of Nokia said, “As we roll out end-to-end 5G around the world to deliver high performance local and wide area connectivity services, we are excited to connect with innovative startups, to allow them to come and collaborate with our experts, and for us to be able to support them to help grow their businesses and shape the future of industrial automation.”

The competition is organized in partnership with NGP Capital, a global venture capital firm, backed by Nokia. NGP Capital has 14 years of expertise in evaluating, investing, and accelerating promising growth-stage companies from all around the world.

This year marks the seventh year of this global competition and the previous year’s winner was Spark Microsystems, a Montreal-based business that manufactures low power wireless transceiver chipsets designed for the Internet of Things (IoT).

Startup businesses that want to enter need to submit their entries by June 30, 2019. The selected finalists will then present their proposals to an international jury at an event located at Nokia’s global headquarters in Espoo, Finland. The selection jury will be chaired by Marcus Weldon and be comprised of leaders from across Nokia, Nokia Bell Labs and NGP Capital.

 

 

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