Verizon Ignites Innovation with Kickoff of 2015 Powerful Answers Award

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BASKING RIDGE, N.J., March 26, 2015 /PRNewswire/ -- Expanding its ongoing commitment to innovation and social responsibility, Verizon said today it is now accepting ideas for its 2015 Powerful Answers Award program. 

Now in its third year, Verizon's Powerful Answers Award offers innovators, developers and entrepreneurs a total of $6M in cash prizes, plus the opportunity for winners to participate in an Accelerator program designed to help develop their ideas and bring solutions to market faster.   

The Verizon Powerful Answers Award program seeks ideas that leverage cutting-edge technology to create solutions that deliver social good. The 2015 program is seeking ideas in three core categories, each with three subcategories:

• Transportation: How can technology enable better, more efficient ways to reduce the complexities of transportation and distribution in the physical world?
  • Smarter Driving
  • Public Transport & Sharing
  • Logistics and Distribution
• Emergency Response: How can technology enable first responders and emergency crews to locate and save lives faster; what solutions can improve long-term recovery for survivors?
  • First Responders
  • Search and Rescue
  • Long Term Relief
• Internet of Things:  How can using technology behind the Internet of Things (IoT) enable new intelligent actions that will have wide-scale and beneficial impacts in the following areas? 
  • Connected Health
  • Smart Cities
  • Smart Agriculture

Ideas can be submitted beginning today through June 18, 2015, at www.powerfulanswersaward.com. Submissions will be judged by panels of industry experts, and winners will be announced in late 2015.

Verizon will award cash prizes of $1 million to the top winner in each of the three core categories.  The second prize winner in each category will receive $500,000 and two third-prize winners in each category will receive $250,000, for a total of $6 million.  

"Verizon is committed to supporting innovation at all levels, from early stage startups to more developed companies through a variety of initiatives including the Powerful Answers Award, Verizon Ventures' portfolio and investments, and through the Accelerator program for Powerful Answers Award winners," said John Doherty, Senior Vice President of Corporate Development and Chairman and Chief Investment Officer of Verizon Ventures.  "We've seen previous winners enjoy great success, and look forward to the new ideas and solutions this year's program generates."

New Accelerator Program for Powerful Answers Award Winners Helps Get Solutions to Market Faster

The Verizon Powerful Answers Award Accelerator program at BootUp Academy, designed to strategically accelerate the growth of participating Powerful Answers Award winners, was recently launched for the 2014 winners.

The Accelerator provides 2014 winners with customized programs built to accelerate growth and drive go-to-market strategies. Based at BootUp Academy in the heart of Silicon Valley, participants embark on intensive workshops and knowledge exchange sessions that provide "best practices"  in business planning, product development, UX/UI design, global go-to-market strategies, communications, financing and growth hacking.  The 2014 winners in the program also have the opportunity to be connected with Verizon Subject Matter Expert Mentors, global advisors, investors, thought leaders and industry experts who can support the acceleration of their powerful answers into sustainable, meaningful companies. 

To learn more about the Verizon Powerful Answers Award program or to submit your idea, please visit: www.powerfulanswersaward.com. Follow the journey with these innovators on Twitter at #VZPAA.

About Verizon
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, with more than 106 million retail connections nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries. A Dow 30 company with more than $120 billion in 2013 revenues, Verizon employs a diverse workforce of 178,500. For more information, visit www.verizon.com/news.

SOURCE Verizon

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