Verizon Communications has joined an EvoNexus incubator program to identify and accelerate innovative use cases tapping 5G networks. Verizon will join Qualcomm as a co-sponsor of the program, which supports early-state ventures using 5G and AI as core elements of their market visions.
Companies in the program will be able to engage with Verizon 5G Labs and Verizon Ventures. Verizon 5G Labs provides start-ups the opportunity to test prototypes and accelerate the development of a minimum viable product which leverages a 5G network. Through Verizon Ventures, early-stage companies can engage with Verizon's venture team while developing business solutions using 5G devices, content, commerce, data and cloud technologies.
Through the incubator program, EvoNexus aims to bring start-ups and larger organizations together to explore how 5G network technology can create new applications and hardware.
Rory Moore, CEO and co-founder of EvoNexus, said, “As is proven over and over again, start-ups are the catalyst for change. They do not avoid risk, they view it as their protection and advantage over their more risk-averse competition.”
The EvoNexus 5G & AI program, which launched on July 15, 2020, has held two rounds of proposals, receiving applications from across the globe. Applications are now being accepted for the third round. The first company admitted is developing innovative mmWave backhaul for 5G.
Nicki Palmer, the chief product development officer at Verizon, said, “We are enthusiastic about working with EvoNexus to further accelerate innovation in IoT, mobile edge computing and other key 5G use cases through early-stage companies entering this incubation program.”
Quinn Li, the senior VP and head of Qualcomm Ventures, said, “5G is the foundation that will create a large number of new use cases and open a new realm of possibilities for 5G expansion across mobile broadband, compute, XR, industrial IoT, 5G private networks, and fixed wireless access. Through EvoNexus, we hope to support start-ups in their development of the most promising 5G use case.”