Nokia, YTL offering $1m each for top apps

Nicole McCormick
11 Jan 2010

With operators around the globe eager to monetize their data platforms, Nokia and Malaysian startup YTL are separately offering $1 million to developers to create winning apps.

At CES in Las Vegas, Nokia CEO Olli-Pekka Kallasvuo launched the firm’s Growth Economy Venture Challenge, which Nokis hopes will “encourage innovators to create a mobile product or service that raises the standard of living or enhances the lives of those in growtheconomies.”

As examples of innovations in growth economies, Olli-Pekka Kallasvuo spoke about several Nokia solutions and projects such as Nokia Life Tools andNokia Tej.

Olli-Pekka said that mobile solutions can be “quite profitable, but not exploitive”, leading to financial win-win scenarios for both innovators and consumers.

The challenge is not limited to Nokia software or hardware. The million dollar prize will be invested in a single winning organization, which will be announced in June.

Meanwhile, Malaysian Wimax operator YTL Communications also announced a $1 million Global Developer Challenge at CES.

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