Up for grabs is €100,000 (approx. USD $113,000) incubation prize money to be shared between three winning teams.
The winners will also join Nokia’s Innovation Accelerator Program to incubate their ideas within Nokia, access the multinational’s global market and network with investors.
The Internet of Things is a concept of embedding digital behavior into everyday objects. In this scenario, things like security systems, cars, electronic appliances and household lights have internet connectivity and can ‘talk’ to each other.
There is plenty of hype around IoT with many believing it to be the next technological game changer.
Here is a short video explainer introduction to the Internet of Things, prepared by Forbes.
“Digitalization is the next industrial revolution, and the automation of everything will drive the next phase of human possibilities,” said Marc Rouanne, Chief Innovation and Operating Officer for Nokia. “The Nokia Open Innovation Challenge 2016 is looking for the next best ideas for connecting people and things.”
Nokia’s new open innovation contest is looking for the next big IoT concepts and business models for public safety, connected automotive, industry 4.0, digital health, utilities, security and smart cities.
Closing Date for Submissions
Wannabe participants have until August 15, 2016 to submit their innovations. For more details of what Nokia is after, and to register to take part, click here.