Ericsson (NASDAQ: ERIC) has opened registration for the Ericsson Innovation Awards (EIA) 2016, a global competition that gives students the opportunity to develop innovative ideas in collaboration with Ericsson experts.
The theme for EIA 2016 is the future of city life. By 2050, about 70 percent of the world's population is expected to reside in urban areas and smart cities are a major opportunity to improve the lives of billions of people. The competition is therefore focused on ideas that use ICT to improve the quality of urban life and to ensure that tomorrow's cities are creative, connected and sustainable places to live and work.
EIA 2016 is open to teams of two to four people. All current students are eligible to enter. After registration closes on November 30, 2015, 10 semi-finalists will be announced on December 18, 2015. Nine of the semi-finalists will be selected by an Ericsson jury, with the remaining place assigned by a public vote.
The 10 teams will each work with two selected Ericsson experts to develop a minimum viable product (MVP) and business plan for their idea. Four teams will be chosen by the jury to participate in the EIA 2016 grand final in in Stockholm, Sweden.
The winning team will receive a cash prize of EUR 25,000, with a second-place prize of EUR 15,000 and two runners-up prizes of EUR 1,000 each. Career-enhancing incentives are also on offer: all participants will be invited to apply for Ericsson opportunities, and semi-finalists will be interviewed for internship or full-time positions.
Ulf Ewaldsson, CTO, Ericsson, says: "In the future, everyone and everything will be connected. Ericsson's role is to drive this transformation, opening up new ways to innovate, to collaborate and to empower people, business and society. Ericsson Innovation Awards 2016 is a stage where the brightest minds of a new generation are empowered to innovate and contribute to the transformation of city life."
For more information on EIA 2016 and to enter the competition, please visit http://www.ericsson.com/innovationawards
Follow the competition on Facebook https://www.facebook.com/ericssoninnovationawards