How big ideas from small companies can make a difference in growth markets – maybe yours?
Posted by Purnima Kochikar, July 19, 2010
At Nokia, we have the audacious goal of improving the health, wealth and education of our users and bringing them these benefits regardless of their geographic location or economic situation. But this post is not about Nokia, it is about the small developer or entrepreneur that wants to make a difference.
For a lot of people a mobile phone is their window to the Internet. Nikhil Jakatdar, the CEO of VuClip, told me that people are paying 50 to 80 rupees ($1 – $1.50) to view videos on feature phones in India, since they don’t have computers through which you can get access. And this is just one example.
The phone is the means to a better life. Nokia Life Tools is a great example where aspiration meets affordability. Working with our local operator, government and third party content partners, we created a service that provides critical locally business-relevant information like crop prices, government advice on modern farming techniques, medical, emergency and educational information, and entertainment. SMS based pricing and installments payment options to ensure that people can afford it. Even though they can opt out anytime, the service is very sticky.
And big ideas can really impact lives and is a means for critical information. For example, in Ghana, mPedigree saves lives by letting people know if their medication is genuine or counterfeit. This is a quite serious and life saving application in markets where counterfeit drugs are a chronic problem. And, also created with a small third party partner, Nokia Tej in Kolhapur, India, is demonstrating how mobile phones can increase sales efficiency and productivity in the textile industry.
One quick plug for any creative minds reading this post, Nokia is now looking for the next big idea – and we are willing to fund it. In fact, Nokia will invest $1 million (USD) in the winning idea submitted to the Growth Economy Venture Challenge.
And, to help pick the winning idea, Nokia has recruited a global panel of judges, including: Executive Producer of TED Media June Cohen; filmmaker Jesse Dylan; blogger Erik Hersman; journalist Jennifer Schenker; industry insider Ram Shriram; Rodolfo Lara Torres from the World Economic Forum; and high-tech veteran Joseph “Yossi” Vardi.
Submissions are due by July 31, 2010, and we have received great ideas from all over the globe including China, Egypt, Germany, India, Japan, Kenya, Norway, Pakistan, Romania, the UK and many other locations. I hope we also get a lot of ideas from the creative minds based here in the Silicon Valley!