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“Gig PrizeTM” offers Chattanoga entrepreneurs a shot at $100K for Internet business

October 27th, 2011


CHATTANOGA, TN – Alcatel-Lucent is investing $100,000 in the “The Gig PrizeTM,” a Chattanooga-based initiative to foster the development of gigabit per second Internet applications and business ventures.

“Last year, Chattanooga became America’s first and only city to complete a community-wide network capable of delivering up to 1 gigabit per second Internet speeds to every home and business in EPB’s 600 square mile service area,” said Robert Vrij, president of Alcatel-Lucent’s Americas Region.

“We’re proud to partner with Chattanooga as this extraordinary city establishes a groundbreaking model for demonstrating the direct linkage between investment in telecommunications infrastructure and economic growth.”

Vrij made his announcement as part of his keynote address during the Chattanooga Area Chamber of Commerce’s Spirit of Innovation luncheon where community leaders announced an initiative to position Chattanooga as the Gig CityTM and unveiled the Gig PrizeTM.

The Gig PrizeTM is a competition in which students and entrepreneurs will create and test next generation Internet applications and launch businesses using Chattanooga’s blazing fast Internet.

“Chattanooga offers forward thinking entrepreneurs a huge head-start in leading the next generation of Internet commerce,” said Tom Edd Wilson, president and CEO of the Chattanooga Area Chamber of Commerce. “The Gig PrizeTM will provide the support and connections necessary to develop, prove and fund these paradigm shifting business models.”

Additional information about The Gig PrizeTM will be released in coming weeks. Interested students and entrepreneurs can learn more at where challenge rules and details will be available soon.

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