Entrepreneurs compete for $10M in investment and prize money to make a global impact
May 16, 2019 06:00 AM Pacific Daylight Time
PARIS--(BUSINESS WIRE)--The Extreme Tech Challenge (XTC), a leading global startup competition, announced a new challenge to bring new technologies and innovations aiming to solve the world's most extreme problems at Viva Technology in Paris, France. The XTC competition, with support from ARM, Cadence, Cisco, Samsung Electronics, Silicon Valley Bank, University of California, and Zoom, will enable entrepreneurs to develop solutions that can have a meaningful impact on our world, network with other startups and investors, while competing for up to $10,000,000 in investments and awards.
The XTC competition seeks out the most pioneering entrepreneurs, startups, and industry-leaders to harness the power of technology to make a positive impact on the planet and our global community. Inspired by the 17 United Nations Sustainable Development Goals—including those related to health, education, diversity, poverty, infrastructure, clean water and climate action —the XTC competition aims to create a better, more sustainable future for mankind through the development of impactful technologies.
“XTC is a concerted effort by industry-leaders and entrepreneurs to make real progress in solving the world's major challenges,” said Young Sohn, President and Chief Strategy Officer, Samsung Electronics. “Technology can be invented and used to unlock breakthrough innovations in the service of society, and all of us at Samsung are eager to help make their ideas a reality.”
The XTC competition is open to global submissions for a product or service based on a new or existing technology or an innovative application aimed at the United Nation Sustainable Development Goals. Startups of any size or funding may apply to the XTC competition.
“Some entrepreneurs want to make their mark on the world—others want to change it,” said XTC co-founder and longtime Silicon Valley entrepreneur and investor, Bill Tai. “XTC has fostered some of the most innovative founders and startups over the past five years, and for 2020, XTC has a renewed focus on tackling the most urgent challenges facing our planet.”
“At Arm, we believe in the power technology has to make a positive and long-lasting impact on the people and areas in most need,” said Simon Segars, CEO, Arm. “Working with Samsung to focus XTC on the Global Goals as part of our 2030Vision initiative is a significant step towards harnessing innovation to overcome some of the major challenges our global society faces.”
“Technology is transformative—it has the power to shape our world for the better,” said Maurice Levy, founder of VivaTech. “XTC and Viva Technology are celebrations of the innovations and innovators who are creating a better, safer, more prosperous future for all.”
In addition to their product or service, startups participating in the XTC competition will be required to submit a 5-minute video that describes their technology, and the positive impact it will make towards achieving one or several of the UN’s Sustainable Development Goals. Early submissions are encouraged to be eligible for partner services and a chance to receive invitations to regional VIP events.
The Top 10 Global Finalists will be announced in April 2020, with the three overall winners announced at VivaTech in Paris, France in May 2020. The top three finalists will be awarded a simple agreement for future equity (SAFE) note, with the first-place winner receiving $1,000,000, the second-place winner receiving $250,000, and the third-place winner receiving $100,000.
The XTC 2020 international submission platform is now available through the XTC website. See the Official Rules on the extremetechchallenge.org website for all of the XTC competition requirements.
About Extreme Tech Challenge
Extreme Tech Challenge is a nonprofit public benefit corporation whose mission is to promote education and science by nurturing the global entrepreneurial ecosystem through supporting technologies to address the world’s biggest problems. The Extreme Tech Challenge™ competition brings together startups, businesses, non-governmental organizations (NGOs), and world leaders to bring solutions that address the challenges facing humanity and our planet.