India: Qualcomm Incorporated, the world leader in 3G and next-generation mobile technologies today announced the third edition of its venture investment competition in India to identify the industry’s most promising early stage technology companies. The Qualcomm Ventures QPrize competition was first launched in 2009 to promote innovation in the technology industry and is managed by Qualcomm’s venture investment arm, Qualcomm Ventures. 

Announcing the launch of the QPrize initiative in India, Dr. Avneesh Agrawal, Qualcomm’s senior vice president and president of Qualcomm India and South Asia, said, “Through QPrize, we are looking to identify breakthrough ideas at early stages and help them grow by providing entrepreneurs with mentorship, investment support and exposure to the global technology ecosystem. We look forward to another round of enthusiastic participation from Indian entrepreneurs in QPrize this year, and to helping transform their innovative ideas into robust and commercially successful technology offerings.”

Also speaking on the occasion, Karthee Madasamy, director of investments for India and Israel, Qualcomm Ventures, said, “Over the last few years, we have witnessed a proliferation of promising young entrepreneurs in India and consequently, the need for investment support and mentorship to help them realize their dreams.”

Last year’s winner of Qualcomm Ventures India QPrize competition, Bengaluru-based company Reverie Language Technologies, provides technology and solutions for local language (Indian, Perso-arabic and other South Asian complex scripts) processing of digital media in mobile and other devices.

Arvind Pani, co-founder and CEO of Reverie Language Technologies, said “Winning Qualcomm’s QPrize 2011 India edition has not only been a huge learning experience for us, but has also resulted in transforming our business.”