XPRIZE Foundation Opens Team Pre-Registration for $2.25 Million Nokia Sensing XCHALLENGE

XPRIZE Foundation Opens Team Pre-Registration for $2.25 Million Nokia Sensing XCHALLENGE

Los Angeles (August 7, 2012) – The XPRIZE Foundation and Nokia today announced that team pre-registration is open for the $2.25 million Nokia Sensing XCHALLENGE. The competition will incentivize breakthroughs in sensor hardware and software that provide a new means of detecting and diagnosing disease and providing data that supports both wellbeing and any health issues. Teams may include individuals or groups from companies at any stage of development or funding; academic institutions; existing small/medium- sized companies; and non-profit organizations.

More than 50 teams from around the world have already declared their intent to compete, with backgrounds from medical devices, mobile health companies, software development, and diverse fields of engineering. Additionally, several teams have registered for both the Nokia Sensing XCHALLENGE and the $10 million Qualcomm Tricorder XPRIZE, the global competition to drive development of devices that will give consumers access to their state of health in the palm of their hand. It is anticipated that the solutions developed as part of the Nokia Sensing XCHALLENGE may also be utilized as part of a team’s effort to win the Qualcomm Tricorder XPRIZE. Together, these competitions will help create an ecosystem of innovative technologies that radically changes the way people understand their state of health – in desirable, convenient ways not previously available.

“We believe leading edge innovation in this competition can come from small companies as well as large companies,” stated Eileen Bartholomew, Vice President of Prize Development at the XPRIZE Foundation. “Specifically, the Nokia Sensing XCHALLENGE can help burgeoning start-ups through global recognition among industry leaders, exposure to capital, as well as funding to accelerate their progress. Fast moving teams who ignore conventional boundaries are most likely to prevail and we invite them to bring their best to the competition.”

The Nokia Sensing XCHALLENGE will be a series of three competition events held over the next two years. Each event will recognize 10 finalists and five winners. The winners of each competition will be the teams that submit best in class technology as determined by a non-partisan judging panel of cross-functional industry experts. Each competition event will have its own team registration. Team registration for the first event ends January 2013.

Teams interested in competing can register by visiting http://sensing.xprize.org/about/guidelines. Early registration will allow teams to gain maximum exposure from public relations efforts and venture capital partnerships, receive help in recruiting additional key team members, and receive guidance in attracting sponsors.

Direct consumer use of sensors and sensing solutions will give people access to information about themselves and their health at any time. Improvements in these technologies will give individuals the confidence to monitor and collect their own real-time health data at their own convenience, providing both consumers and healthcare providers with much more information to make informed lifestyle choices. Consumers want to be in control of not only any ongoing health conditions, but also have ongoing knowledge about their wellbeing and state of health. This critical change is the basis for improving accessibility, reliability, reducing costs, and making health a desirable part of daily life.

For more information about the Nokia Sensing XCHALLENGE, visit: nokiasensingxchallenge.org.

About XPRIZE Foundation

Founded in 1995, the XPRIZE Foundation, a 501(c)(3) nonprofit, is the leading organization solving the world’s Grand Challenges by creating and managing large-scale, high-profile, incentivized prize competitions that stimulate investment in research and development worth far more than the prize itself. The organization motivates and inspires brilliant innovators from all disciplines to leverage their intellectual and financial capital for the benefit of humanity. The XPRIZE Foundation conducts competitions in five Prize Groups: Education; Exploration; Energy & Environment; Global Development; and Life Sciences. Active prizes include the $30 million Google Lunar XPRIZE, the $10 million Archon Genomics XPRIZE presented by Express Scripts, the $10 million Qualcomm Tricorder XPRIZE, and the $2.25 million Nokia Sensing XCHALLENGE. For more information, go to www.xprize.org.

About Nokia

Nokia is a global leader in mobile communications whose products have become an integral part of the lives of people around the world. Every day, more than 1.3 billion people use their Nokia to capture and share experiences, access information, find their way or simply to speak to one another. Nokia's technological and design innovations have made its brand one of the most recognized in the world. For more information, visit http://www.nokia.com/about-nokia.

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