Nokia launches $1 million developer challenge

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Nokia is offering big money in exchange for big ideas by launching a developer challenged aimed at raising standards of living in disadvantaged geographies.

The mobile giant has put $1 million on the table as part of its Growth Economy Venture Challenge looking for a new mobile product or service that can add value to users who need such tech or functionality the most.

"We've seen what the tech community can do when it focuses on problems that are also opportunities," said Nokia chief executive Olli-Pekka Kallasvuo, in a statement. "We want to channel that energy toward improving lives in the developing world."

In addition to benefiting users, the challenge is also looking for submissions that have the potential to deliver a return on investment (ROI). And it's not just limited to Nokia hardware or software either, according to the company.

The winning developer/developers will be selected by a judging panel comprised of Nokia, its venture arm and its third-party developer focused organisation Forum Nokia. In addition, 10 competition finalists will be given the chance to present to Nokia executives and venture capitalists with the opportunity to gain additional business insight and possible investment.

The closing date for entries is 18 April.

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