SPARK Microsystems wins the Nokia Open Innovation Challenge 2018 for its revolutionary low-power wireless transceiver
December 06 2018 - 10:46PM
Press Release
- Montreal-based startup wins $100,000 and will be given access
to resources across Nokia and Nokia Bell Labs to help further
develop its solution
- AOMS Technologies and Razor Secure split $75,000 for joint
second place
6 December 2018
Murray Hill, N.J. - SPARK Microsystems,
which is developing a low-power wireless transceiver for the
industrial Internet of Things revolution, has been named the winner
of the Nokia Open Innovation Challenge 2018 (NOIC). To help bring
its innovative solution to the marketplace, Nokia will provide
SPARK Microsystems with $100,000 as well as access to resources
across Nokia and Nokia Bell Labs to further explore and develop
their solution.
AOMS Technologies and Razor Secure were tied for second place
and will split a $75,000 prize, with each startup also given the
opportunity to work with Nokia and Nokia Bell Labs to investigate
how their solutions can integrate with, and enable, the Future X
network.
Marcus Weldon, President of Nokia Bell Labs and CTO of Nokia,
said, "This year's NOIC brought together many innovative
start-ups with impressive products, technologies and solutions that
will shape the world of industrial automation. While competition
was tight, SPARK Microsystems was selected as the winner for its
low power wireless transceiver chipset that has the potential to
help 'spark' the next industrial revolution."
Fares Mubarak, CEO of SPARK Microsystems, said,
"SPARK is honored to be selected as the winner of this year's
prestigious award. Nokia and Nokia Bell Labs are networking,
communications and wireless technologies leaders, and we look
forward to collaborating on delivering innovative solutions for
edge devices, sensors and wearable applications. These applications
are a great fit for our ultra-low power and ultra-short latency
groundbreaking wireless technology and are aligned with Nokia's
vision of the future."
SPARK Microsystems, based in Montreal, came out on top of more
than 300 start-up companies from the around the world that
submitted entries to NOIC. This year's competition was launched in
July and focused on products and solutions for the industrial
automation and industrial Internet of Things.
The entrants went through two assessment rounds, with 6
finalists invited to pitch and demonstrate their ideas to an
international selection jury at an event held today at the iconic
headquarters of Nokia Bell Labs in Murray Hill, N.J. The selection
jury was led by Weldon and was comprised of leaders from across
Nokia, Nokia Bell Labs and NGP Capital.
The three other competition finalists that participated in
today's event included INVOLI, NKN, and XXII, with novel approaches
to drone air traffic information systems, a novel internet overlay
network, and xR and video analytics solutions for industrials,
respectively.
This year's winners will join a growing list of companies with
access to Nokia's resources to help grow their businesses. Last
year's winners included smart clothing developer Continuum
Technologies as well as Snaptivity, which enhances live sport fan
experiences through AI-powered robotic cameras.
Resources:
- Nokia Open Innovation Challenge website
- SPARK Microsystems website
- AOMS Technologies website
- Razor Secure website
About Nokia Bell LabsNokia Bell Labs is the world
renowned industrial research arm of Nokia. Over its 92-year
history, Bell Labs has invented many of the foundational
technologies that underpin information and communications networks
and all digital devices and systems. This research has resulted in
9 Nobel Prizes, three Turing Awards, three Japan Prizes, a plethora
of National Medals of Science and Engineering, as well as an Oscar,
two Grammy awards and an Emmy award for technical innovation. For
more information, visit www.bell-labs.com.
About NGP CapitalNGP Capital is a globally engaged
venture capital firm backing growth-stage and revenue generating
technology companies that will shape and power a fully connected
world. By operating one, global fund with over $1 billion under
management, we extend the reach of our companies via on-the-ground
teams in U.S., Europe, India and China making our portfolio company
products and services local everywhere. www.ngpcap.com
About NokiaWe create the technology to connect the world.
Powered by the research and innovation of Nokia Bell Labs, we serve
communications service providers, governments, large enterprises
and consumers, with the industry's most complete, end-to-end
portfolio of products, services and licensing.We adhere to the
highest ethical business standards as we create technology with
social purpose, quality and integrity. Nokia is enabling the
infrastructure for 5G and the Internet of Things to transform the
human experience. www.nokia.com
Media inquiries:Nokia CommunicationsPhone: +358 10
448 4900Email: press.services@nokia.com
Nokia (NYSE:NOK)
Historical Stock Chart
From Feb 2024 to Mar 2024
Nokia (NYSE:NOK)
Historical Stock Chart
From Mar 2023 to Mar 2024