PETALING JAYA: The top cash prize money is US$200,000 to anyone globally that can develop new 4G mobile Internet applications for YTL Communications Sdn Bhd (YTL Com) 4G WiMAX deployment this year.
The same amount will be paid to the top creator of devices for YTL Com to use to push its 4G WiMAX in Malaysia and hopefully replicate in other countries.
The US$200,000 is part of the US$1mil commitment YTL Com made months ago to push Malaysia ahead in terms of innovation and at the same time use the applications for its network. The “myprize” global competition was launched at the Las Vegas Consumer Electronics Show over the weekend.
The million-dollar purse was the largest award ever offered for an open innovation contest of this kind, said Matt Greeley, CEO of Brightidea, the leader in on-demand innovation management.
There are three prizes for top applications and 4G devices from US$200,000, US$120,000 and US$80,000 for each category and from first to third prize winner respectively. There is a special prize of US$120,000 for any Malaysian that can come up with an innovation. The top device or application idea gets US$40,000 each.
YTL Com said in a statement the competition was designed to inspire entrepreneurs and innovators globally to create the products. Details are available at www.myprize.my.
But it is highly unlikely that when YTL Com rolls out its 4G WiMAX services this July it would have any of the creations as the contest winners will only be announced in September.
What content it would provide in July is unclear but the company has said it plans to surprise the market and hopes to get a sizeable market share with its “unique” offering.
This competition was mooted to generate worldwide interest and attract innovators globally.
The company is building an excellence centre which will be its nerve centre for its network and it will ride on both Telekom Malaysia Bhd and Fibrerail’s networks to offer services nationwide. Its technology partners for its roll-out are Cisco, Clearwire, GCT and Samsung,