Verizon “Built on 5G Challenge” Winner, Ario, Gets $1M to develop 5G concept

Date : 01/29/2020 @ 2:00PM
Source : GlobeNewswire Inc.
Stock : Verizon Communications Inc (VZ)
Quote : 54.7  -0.55 (-1.00%) @ 9:26PM
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Verizon “Built on 5G Challenge” Winner, Ario, Gets $1M to develop 5G concept

Verizon Communications (NYSE:VZ)
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3 Months : From Jan 2020 to Apr 2020

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Verizon has named the winners of its “Built on 5G Challenge” launched in April 2019. The nationwide search that asked innovators to offer up their best and brightest 5G ideas received more than 550 submissions. Three winners were chosen.

And the winners are:

  • First Place: The $1 million winner is Ario. The company has developed an augmented reality (AR) productivity platform to increase workplace safety and efficiency. Ario will use Verizon 5G Ultra Wideband to improve the platform’s performance with advanced connectivity and improved image recognition. 
  • Second place: The $500,000 prize winner is GAROU. The company’s virtual reality (VR) content platform leverages a 3D model of the world as an interface for accessing content and for in-VR social interaction. The company will use Verizon 5G to improve VR technology in a multi-user setting and help users access content in real time.
  • Third place: The $250,000 prize winner is LexSet. The company generates synthetic image data from 3D content to train high-performance computer vision AI. The company will use Verizon 5G to enable advances in edge-based mixed reality, robotics, and inventory management.

 “These innovators have come up with some really ground-breaking solutions that can only be fully realized with the fast speeds, massive bandwidth and super-low latency that Verizon 5G Ultra Wideband offers,” said Nicki Palmer, chief product development officer at Verizon. “By bringing these companies into our 5G Labs, where we collaborate with universities, startups and enterprises to co-create 5G concepts, we’re giving them access to all the tools they need to create truly transformational experiences that will reshape entire industries.”

Challenge winners’ concepts were judged on criteria including how their ideas could increase business efficiency, improve immersive experiences and/or solve customers’ most challenging problems. For an eight-week period, the winners will have access to Verizon 5G Ultra Wideband at Verizon’s 5G Labs and partner with Verizon 5G specialists to develop their concepts.

Learn more about Verizon 5G Labs and Verizon 5G technology.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is celebrating its 20th year as one of the world’s leading providers of communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $130.9 billion in 2018.  The company offers voice, data and video services and solutions on its award winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at www.verizon.com/about/news/. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:Chris Ashraf201.320.4259christina.moon.ashraf@verizon.comTwitter: @ChrisMoonPR

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