Last week, Verizon announced that it is now accepting ideas for its 2015 Powerful Answers Award program, inviting innovators, developers and entrepreneurs to compete for $6M in cash prizes. One of the three main categories for the program is the Internet-of-Things (IoT) where Verizon is seeking ideas on the application of IoT across segments such as Connected Health, Smart Cities and Smart Agriculture. Participants competiting in this category will be providing their top-notch ideas which answer the "How can using technology behind the IoT enable new intelligent actions that will have wide-scale and beneficial impacts in the following areas? Connected Health, Smart Cities, Smart Agriculture"
Verizon will award cash prizes of $1 million to the top winner in each of the three core categories, which also include Transportation and Emergency Response. The second prize winner in each category will receive $500,000 and two third-prize winners in each category will receive $250,000, for a total of $6 million. Winners will also get a chance to take part in Verizon’s BootUp Academy Accelerator to help develop the idea into reality.
John Doherty, SVP of Corporate Development & Chairman and Chief Investment Officer, Verizon Ventures
Verizon is committed to supporting innovation at all levels, from early stage startups to more developed companies through a variety of initiatives including the Powerful Answers Award, Verizon Ventures' portfolio and investments, and through the Accelerator program for Powerful Answers Award winners. We've seen previous winners enjoy great success, and look forward to the new ideas and solutions this year's program generates.
