Tuesday, January 8, 2013

Verizon Pledges $10 Million for "Power Answers"

Verizon will award $10 million in prizes for ideas to help address some of the world's biggest challenges.

The  "Powerful Answers" competition seeks to challenge the best minds in the technology industry to develop wireless, wireline or cloud-based solutions addressing issues involving education, health care and sustainability. 

Prizes will be awarded in multiple categories.  Submissions must include a summary of the idea or product; an articulation of the problem being solved; a high-level business plan; a sense of the potential global impact of the solution and how it utilizes Verizon's wireless and wireline network capabilities.  Submissions will be judged by a panel of Verizon executives, members of academia, the media and the venture capital community.  The awards will be made at CES 2014.

"The reach and power of our converged mobile, video and cloud networks make them an unparalleled platform for delivering social innovations on a big, big scale. What we need now is for the best minds in the technology industry to figure out how to tap their capabilities to change the world for the better,"  said Lowell McAdam said Verizon's chairman and CEO.