Verizon knows they need fresh new ideas to stay on top of their game. They also realize there is a vast creative community of bright minds that are not on the Verizon payroll. Dangling a $10 million carrot is not a bad way to get the attention of the techno-geek digerati.
From previous work with the Verizon VTO (CTO) team I know that every year 2 or 3 key business projects are selected for serious exploration, experimentation and potential adoption. By specifying Education, Healthcare and Sustainability as the key areas for new solutions, Verizon has provided some insite at what may become potential revenue streams for their future profits.
On April 3, Verizon Chairman and CEO Lowell McAdam officially launched the Powerful Answers Award. The Award is intended to spark innovative thinking and problem solving across industries and to generate ideas, solutions and answers for some of the world’s biggest challenges.
Verizon’s Powerful Answers Award is an effort to discover ideas that deliver the best new solutions in three core areas of focus: education, healthcare and sustainability.
Entries will be judged by panels of experts, and $10 million total in prizes will be awarded to the winners, who will be announced at 2014 CES.
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