The competition was officially launched worldwide by Nokia on Tuesday with a focus this year on industrial automation and the industrial Internet of Things domain, with prize money totalling US$175,000.
Tim Marshall, Nokia Oceania head of Corporate Affairs, who suggests Australia has the opportunity to take a lead in the competition, says “there is a shift in thinking now about how we move from massive sensor data collection to how we generate industrial benefit and these innovators are playing a big part in that”.
“We have a Bell Labs Consulting presence here (in Australia) working with our customers and it would be wonderful to see Australian industrial entrepreneurs working with Bell Labs research and development to build their ideas.”
NOIC is administered by Nokia Bell Labs in partnership with NGP Capital. Now in its sixth year, Nokia says the goal of NOIC is to connect the world through innovations that shape the future of human collaboration, communication, connection and control.
Companies participating in the challenge can submit their ideas now through until 6 September, and an international jury will then select the most advanced and innovative candidates to present their products or solutions at a final event to be held in early December at Nokia Bell Labs' headquarters in Murray Hill, New Jersey.
Marcus Weldon, president of Nokia Bell Labs and chief technology officer of Nokia, said, "We're excited to open this year's NOIC with a focus on industrial automation. This is a tremendous opportunity for startups and entrepreneurs to work alongside Nokia Bell Labs researchers and others in Nokia to bring their ideas to life.”
“Our team looks forward to working with competition winners to help create new technologies that will create unparalleled increases in efficiency through augmented intelligent devices, systems, platforms, and applications."
Bo Ilsoe, partner, NGP Capital, said, "We continue to champion this initiative by sponsoring it for the fifth year in a row. It's a great way for us as investors to meet the best new companies in each challenge category and for Nokia to find new external partners."