Today, we are very pleased to announce that Spark Microsystems is the winner of the 6th annual Nokia Open Innovation Challenge (NOIC) and $100,000 for its ultra-low power and latency wireless technology for the Internet of Things (IoT). Second place was a tie and $37,500 was each awarded to AOMS for its fiber optic sensing technology and monitoring platform for Industrial IoT and to RazorSecure for its cybersecurity software using advanced machine-based learning. The NOIC winners were announced on Thursday, December 6, 2018 at the global headquarters of Nokia Bell Labs in Murray Hill, NJ. Nokia Bell Labs in partnership with NGP Capital, administered the competition with the goal of connecting the world through innovations that shape the future of human collaboration, communication, connection and control. In addition to the prize money, the winners will also be given access to Nokia Bell Labs research and development resources, as well as opportunities to grow their businesses through joint partnerships with Nokia.
The focus of this year's competition was industrial automation and the industrial Internet of Things (IIoT). The winners this year impressed our panel of esteemed judges and were selected from a total of over 300 start-up companies from the around the world. The entrants went through two assessment rounds, with the six finalist companies invited to pitch and demonstrate their ideas to an international selection jury.
This year's winners will join a growing list of companies with access to Nokia's resources to help grow their businesses. Last year's winners included smart clothing developer Continuum Technologies as well as Snaptivity, which enhances live sport fan experiences through AI-powered robotic cameras.
Congratulations to the 2018 NOIC winners!