Source: Diana Goovaerts
At CES 2019, Verizon CEO Hans Vestberg announced a US $1 million bounty for transformative 5G applications, as he touted the potential of next generation networks to drive change. According to Mobile World Live:
In a keynote address, Vestberg said the operator will launch a Built on 5G Challenge in the first half of this year, luring innovators with awards of up to $1 million in seed money and access to Verizon’s 5G labs to develop new use cases.
The announcement came as Vestberg talked up the potential of 5G, noting it will represent a “quantum leap compared to 4G” and power an “enormous transformation” in the way companies do business.
Specifically, the CEO pointed to eight key characteristics of the next generation technology he said will spur a new era of innovation, including: faster peak data rates; increased traffic volume; mobility; connected devices; energy efficiency; faster service deployment;
Source: Mobile World Live
Official website of the challenge: http://verizon.com/builton5Gchallenge
According to the website, The Built on 5G Challenge is a nationwide search for the biggest and brightest ideas that will bring the true power of 5G to life. The Challenge will launch in Spring 2019. Sign up for updates and be first to learn when it officially opens. The winning innovators will be awarded up to a total of $1 million, gain access to our 5G Labs and more.
Official Verizon video from CES and the launch of challenge below
To learn more about what 5G exactly means, visit the 5G videos section on 3G4G homepage here.