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Qualcomm Inc. has launched a global business plan competition to promote innovation in the wireless industry. The Qualcomm Ventures QPrize contest is open to entrepreneurs in North America, Europe, China, and India, providing $550,000 in total seed funding to help entrepreneurs transform their innovative business plans into reality.

“Many of tomorrow’s great technology innovations are being developed by small companies, entrepreneurs, and university students,” said Nagraj Kashyap, vice president of Qualcomm Ventures. “This competition is designed to provide initial financial support to help bring their ideas to market.”

The competition is open to international entrants whose business plans accelerate wireless technology development in seven key sectors: consumer/enterprise applications and services, communication devices, semiconductor and component technologies, mobile platforms, digital media and content, healthcare technologies and services, and clean technology.

The deadline for business plan submissions is July 31, 2009. Qualcomm will select one semi-finalist from each of the four contents markets: North America, Europe, China, and India. These semi-finalists will each receive $100,000 of convertible note funding from Qualcomm Ventures and will be invited to the Qualcomm Ventures CEO Summit in San Diego, Calif., to compete for the grand prize.

The grand prize winner will receive and additional $150,000 of convertible note funding for a total prize of $250,000 in venture financing. Key sponsors include DLA Piper and Plug and Play Tech Center. Additional details on the competition, candidate eligibility, and submission guidelines are available at www.qprize2009.com.