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PRESS RELEASE

Cisco Launches 2nd I-Prize Global Innovation Contest to Find Next Potential Billion-Dollar Idea

Contest Calls for Worldwide Collaboration Among Entrepreneurs to Develop New Businesses

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Cisco I-Prize 2

SAN JOSE, Calif., Jan. 27, 2010 – Cisco today announced the launch of the second I-Prize contest, an open global innovation competition in which entrepreneurs worldwide can collaborate and submit their proposals with the potential to be Cisco's next billion-dollar business idea. Following last year's competition, which drew nearly 2,500 entrants, this year innovative thinkers will have access to an expanded portfolio of Cisco® collaboration solutions to build on as they share their ideas with other participants around the world. The winning team will be eligible for $250,000 in prize money. 

CONTEST DETAILS

  • Idea submissions should fall into one of four categories:
    • The future of work: Use the power of the network to bring together customers, suppliers and associates to propose solutions that will change the way companies and organizations do business. 
    • The connected life: Describe technological advancements that will dramatically improve living conditions and culture. This category will require people to envision a life of seamless connectivity. 
    • New ways to learn: Create innovative solutions that will transform when, where and how people learn and educate.
    • The future of entertainment: Devise next-generation solutions that will change how people play.
  • I-Prize contest participants will have access to the following Cisco collaboration solutions, which can help break down communication barriers associated with global innovation:
    • Cisco Show and Share, a social video community where contest participants can record, edit and share video; comment, rate and tag interesting content; and use speech-to-text translation for easy video search and viewing.
    • Cisco Pulse, a search platform that dynamically tags content as it crosses the network, allowing contest participants to accurately locate and rapidly connect with the best available experts and information on a particular topic.
    • Cisco WebExTM, an online meeting platform for audio and Web conferencing that enables users to share documents and desktops in real time.
    • Cisco TelePresenceTM, an immersive, virtual meeting experience that combines innovative real-time video, audio and interactive technologies to give people in distributed global locations a wide variety of face-to-face collaboration experiences.
  • I-Prize participants will also enjoy access to a unique management platform, powered by Spigit, which enables participants to buy and sell ideas on an open market. The idea market lets contest participants establish the value of their ideas through trades. Shares of ideas are purchased with virtual currency awarded to participants based on the value of their contributions on the platform.
  • Entries will be evaluated according to the judging criteria outlined in the terms and conditions, including an entry's technological innovation and business. All submissions must use the IP network as a platform.
  • For more information, contest rules and entry forms, please visit http://www.cisco.com/iprize.

Supporting Quotes:

"The Cisco I-Prize competition has been very successful in helping Cisco generate new business ideas from all over the world across a number of exciting industries," said Marthin De Beer, senior vice president, Cisco Emerging Technologies Business Group. "With this year's contest, we will increase effectiveness and speed of innovation for participants by using new forms of video collaboration solutions to break down the barriers associated with distance and time, a critical step in evolving global innovation models."

Tags / Keywords:

Cisco, Innovation, Contest, Emerging Tech, Collaboration, Video, TelePresence, WebEx

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About Cisco Systems

Cisco, (NASDAQ: CSCO), the worldwide leader in networking that transforms how people connect, communicate and collaborate, this year celebrates 25 years of technology innovation, operational excellence and corporate social responsibility. Information about Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com.

# # #

Cisco, the Cisco logo, Cisco Systems, Cisco TelePresence and Cisco WebEx are registered trademarks or trademarks of Cisco Systems, Inc. and/or its affiliates in the United States and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. This document is Cisco Public Information.

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