Verizon Kicks Off Search for Biggest and Brightest 5G Ideas with Launch of “Built on 5G Challenge”
April 16 2019 - 9:32AM
Verizon is now accepting submissions for its “Built on 5G
Challenge,” a nationwide search for the best products, services,
and applications that will bring the true power of 5G to life. The
Challenge intends to inspire innovation and ideas that use 5G and
related empowering technologies like low-latency edge computing to
address the biggest challenges in business and society. In order to
be eligible, teams must be part of a U.S. company that has 200 or
fewer employees and meet the eligibility requirements in the
Official Rules.
“We’re calling on innovators to create truly transformative
solutions that leverage 5G’s ultra-fast speeds, massive bandwidth
and low latency,” said Kyle Malady, Verizon’s chief technology
officer. “We expect to see new uses cases that not only enhance
existing technologies, but create experiences we couldn’t even
fathom until now.”
In addition to describing their new 5G-enabled ideas, applicants
will need to show how their ideas use technology to impact positive
change – not only in how their solutions create new utility, but
also in how their businesses are run. Challenge areas include:
- Industry: 5G-enabled solutions for businesses
to act in real-time and create new value for their customers.
For example, this might include utilization of 5G and related
technologies that take advantage of low-latency computing to
improve processes on a factory floor or assist customers in a
retail environment.
- Immersive Experiences: 5G-enabled and
never-before-seen immersive consumer entertainment
experiences. For example, this might include utilization of
5G and immersive technologies, such as virtual reality or augmented
reality (AR/VR), to create new ways for consumers to experience
media.
- Moonshots: 5G-enabled, transformative
solutions that solve big problems and transform the way we live,
work, and play. For example, this might include new value being
created in new industries by using one or more of Verizon’s “Eight
Currencies of 5G.”
Submissions will be open until July 15, 2019 and the winners
will be announced in October 2019. The winning team will receive $1
million, and the second and third prize teams will receive $500,000
and $250,000, respectively. In addition to these prizes, first,
second and third prize winners will be required to grant Verizon
the opportunity to invest in their next financing round. All
winning teams will be given an opportunity to access live 5G
networks located at Verizon’s 5G Labs to further develop their
submissions.
For full contest details on eligibility, requirements and
prizes, innovators should visit verizon5glabs.com/builton5g
and to learn more about Verizon’s plans for bringing 5G technology
to customers, visit verizonwireless.com/5g.
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in
New York City, generated revenues of $130.9 billion in 2018. The
company operates America’s most reliable wireless network and the
nation’s premier all-fiber network, and delivers integrated
solutions to businesses worldwide. With brands like Yahoo,
TechCrunch and HuffPost, the company’s media group helps consumers
stay informed and entertained, communicate and transact, while
creating new ways for advertisers and partners to connect.
Verizon’s corporate responsibility prioritizes the environmental,
social and governance issues most relevant to its business and
impact to society.
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Media contact:Chris
Ashraf908.381.2384Christina.moon.ashraf@verizon.comTwitter:
@ChrisMoonPR
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