Qualcomm partners Microsoft to award promising start-ups

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US-based mobile chipmaker Qualcomm has partnered with Microsoft for the third edition of its 'QPrize' competition, to recognise and award some of the promising early-stage technology companies in India.

Under the partnership, Microsoft will provide USD 25,000 (about Rs 1.38 lakh) for the second prize winner of QPrize in India and sign up the shortlisted applicants to its BizSpark programme.

The finalist, on the other hand, would be considered for BizSpark Plus, a global programme that helps software startups by helping them connect with industry players and investors as well as provide access to its software development tools.

Microsoft's participation will provide promising startups the much needed support to help accelerate their success while ensuring greater exposure to the venture community, Qualcomm Ventures director of investments for India and Israel Karthee Madasamy said. Qualcomm Ventures is the venture capital investment arm of Qualcomm.

The deadline for business plan submissions is August 17, 2012. The competition is open to start-up ventures, which have received not received more than USD one million funding.

The QPrize competition is held across China, India, Israel, Korea, North America, Western Europe, Brazil and Eastern Europe.