NEW YORK, Jan. 08, 2019 (GLOBE NEWSWIRE) -- During his keynote address at the 2019 Consumer Electronics Show, Verizon Chief Executive Officer Hans Vestberg today announced the launch of the Verizon “Built on 5G Challenge,” calling on innovators to create transformative solutions that leverage 5G connectivity to transform the way people live, work, and play. For more information, click here.

“When we launched 4G, we couldn’t have imagined that it would enable applications like Uber and Netflix,” said Kyle Malady, Chief Technology Officer at Verizon. “5G’s unique speed, bandwidth and latency is about to usher in a new era of connectivity and innovation that many are already saying will herald a fourth industrial revolution. Now, as 5G becomes a reality for more consumers this year, we want to give innovators access to this game-changing technology to allow them to create use cases that no one has been able to dream up until now.”

Up to $1 million in total grant funding will be awarded to winning innovators to develop their concepts on live 5G networks located at Verizon’s 5G New York Lab, 5G Waltham Lab, 5G Cambridge Lab, and new locations being developed in Los Angeles, Palo Alto, and Washington, D.C. In addition, Verizon 5G Labs technical advisors will provide training and support to winning innovators.

Verizon developed these 5G Lab destinations as spaces for local innovators to explore the boundaries of 5G technology, co-create new use cases, applications, and hardware, and engage with the community through programming designed to encourage innovators to rethink what’s possible in a 5G world. 

Verizon’s “Built on 5G Challenge” submissions will be accepted online beginning in Spring 2019. Winners will be judged on innovation, commercial viability, and the potential impact and sustainability of how their ideas will be able to make the world a better, more connected place.  

About Verizon:
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York City, generated $126 billion in 2017 revenues. The company operates America’s most reliable wireless network and the nation’s premier all-fiber network, and delivers integrated solutions to businesses worldwide. With brands like Yahoo, Techcrunch and HuffPost, the company's media unit helps consumers stay informed and entertained, communicate and transact, while creating new ways for advertisers and partners to connect. Verizon's corporate responsibility prioritizes the environmental, social and governance issues most relevant to its business and impact to society.

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John Snow
Twitter: @_snowjohn