Verizon’s Powerful Answers Award has $6 million up for grabs for people with ideas in transportation, emergency response and Internet of Things.
Contest alert! This one is from Verizon, which is looking for a few good people with better ideas on the Internet of Things, as well as transportation and emergency response. Up for grabs is $6 million cash, which is split evenly between the three categories.
The Verizon 2015 is looking for a few very good ideas (judges will make the call). On its submission form, you have 450 words to explain what’s so great about your idea. You don’t even need a prototype! Here’s what you’ll need to prepare:
- 150 words to summarize the problem and how you intend to solve it
- 150 words on how it will use mobile technology, especially Verizon technology (though this isn’t required)
- 150 words to describe the market potential and who is going to use it.
But really, $1 million awarded for an idea?
“Theoretically, one could have just an idea at the time of submission, but have the right team and road map to get to a beta product within a year,” Meagan Dorsch, a Verizon spokesperson, explained to me. “Alternatively, if it takes longer from an R&D perspective, then they need to be really close to having a product in at least an alpha stage around the time of submission, with a road map to reach a beta product within a year. They don’t need a patent.”
The $6 million in cash breaks down evenly between the three categories: $1 million to each top winner, $500,000 for second place and $250,000 for two third-place recipients in each category. Winners will also get a chance to take part in Verizon’s to help develop the idea into reality.
Submit ideas by June 18 at this site:
