Seattle has to have a few contenders for a new contest Nokia is running. It’s offering a $1 million investment in the best mobile business idea submitted to its Growth Economy Venture Challenge.
That’s a lot of Finnish cheese for a phone app.
But it can’t be another mobile game or Twitter client — Nokia wants to hear from people thinking globally. It’s looking for:
— An idea that could truly change the way people use Nokia mobile devices.
— An idea that demonstrates how mobility improves the lives of millions of people in emerging markets worldwide.
— An idea that recognizes a good business opportunity can also contribute to “doing good” — and making a dramatic difference in the lives of people in developing nations.
Here’s the judging criteria, from the contest Web site:
— 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 are due June 10.