Thursday, March 14, 2013

Qualcomm Names Venture Investment Prize Winner

San Diego-based Qualcomm has named the winner of its annual, Qualcomm Ventures QPrize Venture Investment Competition, the company said this morning. Qualcomm said it has awarded $150,000 in convertible note funding to iOnRoad, and Israeli company which is developing apps to help drivers detect vehicles on the road and alerting them to danger. iOnRoad had previously won $100,000 from Qualcomm for winning the Israeli region competition of Qualcomm's QPrize competition. Qualcomm's venture prize competition is in its third year. The company said it awarded over $1M in total seed funding as part of the event this year.