Nokia announced a million dollar venture challenge to encourage innovators to create a mobile product or service aimed at benefiting populations in developing countries. Named Growth Economy Venture Challenge, Nokia’s latest challenge is part of Nokia’s global Calling All Innovators competition announced on January 7 at the Consumer Electronics Show (CES). According to Nokia CEO, Olli-Pekka Kallasvuo, mobile solutions can be profitable and not exploitive in the same time for both innovators and consumers. Growth economies are able now more than ever to enjoy further growth given the mobility available to enhance the lives of consumers and further technology investments will focus on the developing market, as opposed to the saturated ones. “We’ve seen what the tech community can do when it focuses on problems that are also opportunities. We want to channel that energy toward improving lives in the developing world”, Kallasvuo said. Any submissions dedicated to boost the target growth economy and provide a potential return on investment will be considered, including software, hardware, mobile and Internet adoption and beyond mobile phones. The contest is not limited to solutions that use a Nokia device or software platform, explained Kallasvuo, citing several solutions and projects developed for growing economies, such as Nokia Life Tools and Nokia Tej. Nokia’s projects can be viewed at http://theprogressproject.com/. The million dollars will be awarded in June 2010 to the contestant with the best idea, as decided by judges from Nokia Growth Partners, Nokia’s venture arm, and Forum Nokia, Nokia’s organization dedicated to 3rd party developers and other innovators. Also, ten finalists will have the chance to present their business models to Nokia business people and private venture capitalists in order to receive guidance and possible funding. Submissions are open until April 18 at www.callingallinnovators.com and all finalists will be announced by May 2010. Through Nokia Growth Partners and Forum Nokia, Nokia offers developers and innovators potential funding, expert technical support and marketing programs designed to assist and promote third party activities on Nokia platforms. Nokia Growth Partners is a leading global growth stage venture firm focused on mobile technology, services and media. Nokia’s global developer program, Forum Nokia connects developers to tools, technical information, support, and distribution channels they can use to build and market applications around the globe. Nokia is the world’s leading maker of mobile devices. The company also provides digital map information through NAVTEQ and equipment, solutions and services for communications networks through Nokia Siemens Networks.