Bo Ilsoe, a partner at NGP Capital, says the company has been on board for five years. “We continue to champion this initiative by sponsoring it, as it has proven to be a great way for us as investors to meet the best new companies in each challenge category and for Nokia to find new external partners.”
Start-ups that enter the challenge stand to win prize money totaling $175 000 (about Shs654 million), access to Nokia Bell Labs’ research and development resources, as well as opportunities to grow their businesses through joint partnerships with Nokia.
Last year’s winners include smart clothing developer Continuum Technologies as well as Snaptivity, which enhances live sport fan experiences through artificial intelligence-powered robotic cameras.
Interested parties can enter NOIC herebefore 6 September. An international jury will then select the most advanced and innovative candidates to present their products or solutions at a final event to be held in early December at Nokia Bell Labs’ headquarters in New Jersey.