The Nokia Open Innovation Challenge 2016 is inviting African startups to apply for this year’s edition which offers companies in the Internet of Things (IoT) milieu the chance to win acceleration and a share of US$112,000 (approx. 62 million CFA) in prize money.
Finalists will receive a technology increase by entering the Nokia Open Innovation Challenge 2016 programme, while they will also have access to the internal and global market of Nokia and investment opportunities from Nokia Growth Partners (NGP). The top three teams will share the $120,000 prize money.
“Rapidly developing IoT technology is opening up multiple new business opportunities for operators and enterprises, spanning many industries – public safety, healthcare, connected mobility, smart cities and more,” Nokia said.
“Nokia’s vision is to expand the human possibilities of technology to improve people’s lives and help them thrive by enabling a programmable world where billions of people, things, sensors and devices are connected.”
The Nokia Open Innovation Challenge, then, is out to scout for revolutionary technologies, the next big ideas and new business models in the IoT domain, mostly in the spheres of connected automotive, public safety, security, industry 4.0, digital health, utilities and smart cities. NGP raised a new IoT fund of US$350 million from Nokia in February, with the fund serving to identify new opportunities to grow the ecosystem in IoT solutions.