the Growth Economy Venture Challenge

The winner of Nokia’s Growth Economy Venture Challenge will receive a $1 million (USD) venture capital investment and support from Nokia to help turn the idea into reality.

Criteria for the winning proposal
The winning proposal in the Growth Economy Venture Challenge will meet the following criteria:

• It must include a clear mission statement; and provide a product or service plan that will undeniably raise the standard of living, and/or enhance the lives of people living in emerging market countries today.
• The initial target market must be located in a region with per capita income significantly lower than what is found in industrialized nations today (e.g., sub-$5 per day).
• It must include a viable business model that has a high likelihood of providing a strong return on investment for the venture funding provided.

Submissions for this unique investment opportunity will be accepted through 11:59 pm PST 31 July 2010. The winner will be announced on 15 September 2010 at Nokia Developer Summit in London.