With the aim of finding solutions to the world’s largest global issues, Verizon is holding a multi-million dollar competition for innovators, entrepreneurs, and companies all over the world. Described as an opportunity to ‘combine good ideas with powerful technology’, the Powerful Answers Award will present the most innovative solutions with prizes worth up to $1M.
Until June 18, Verizon will accept submissions offering solutions in three categories including Emergency Response, Transportation and Internet of Things. Verizon has provided three specific areas of concern to be addressed within each broad category:
1. Emergency Response: First Responders, Search & Rescue and Long Term
2. Relief Transportation: Smarter Driving, Public Transport & Sharing and Distribution & Logistics
3. Internet of Things: Connected Health, Smart Cities and Smart Agriculture
Following the first round of this three-round competition, submissions will be reviewed by a panel of judges and chosen to advance to the semi-finals where entrants will be prompted to provide a full proposal including a marketing strategy, detailed business case and any additional supporting materials.
The top 12 ideas will be chosen to give a 30-minute, in-person presentation of the final proposal followed by Q&A with the judges. The first prize winner will be awarded $1M, while the second prize winner will win $500K and two 3rd prize winners will receive $250K.
