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INTERDIGITAL, INC. (IDCC)
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InterDigital, Inc. : InterDigital and Calit2 Launch InterDigital Innovation Challenge

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02/14/2012 | 09:25am EST

Proposals for Engineering Competition With $175,000 in Cash Prizes Due by March 30, 2012

InterDigital (NASDAQ: IDCC) and the University of California, San Diego division of the California Institute for Telecommunications and Information Technology (Calit2) today announced the launch of the InterDigital Innovation Challenge (I²C), an engineering competition that aims to discover breakthroughs in advanced wireless technologies.

The I²C is open to individuals or teams from any North American college or university. Participants are required to submit a proposal explaining the technical and commercial viability of their idea in the area of radio signal propagation and processing, radio modem innovations, radio network management and systems innovations, compression and data management techniques, energy improvement in radio processing and/or wireless and network virtualization.

The submissions will be evaluated by an eight-member judging panel from academia and industry, and $175,000 in cash prizes will be awarded to the top entries, including $100,000 for the winning team or individual.

"As a leader in the development of advanced wireless technologies, InterDigital® is proud to work with Calit2 - widely recognized as one to the world's premier academic research institutions - on creating a platform that will bring together some of the best and brightest in the field," said William J. Merritt, InterDigital's President and Chief Executive Officer. "Given the strong support and leadership of Calit2, we are confident that the InterDigital Innovation Challenge will generate a number of technical breakthroughs and fresh thinking that will help shape the future of wireless."

Ramesh Rao, Director of the UCSD division of Calit2 and I²C Challenge Chair, called the Challenge "a fresh approach to stimulating innovation in wireless."

"We have watched agencies like DARPA adopt challenge awards as the means to stimulate creativity," he added, "and we are delighted that InterDigital has chosen to provide resources to run a similar process focused on wireless. "

The judging panel consists of Brown University School of Engineering Dean Lawrence Larson; Rutgers School of Engineering Professor and WINLAB Director Dipankar Raychaudhuri; UC Santa Barbara College of Engineering Professor Jerry Gibson; Stanford University Professor Emeritus Arogyaswami Paulraj; UC Irvine Engineering Professor and Director of the Center for Pervasive Communications and Computing Hamid Jafarkhani; InterDigital Chief Technology Officer Naresh Soni and telecommunications entrepreneur and venture capitalist Martha Dennis.

"This competition is right on the mark for stoking innovation in the telecommunications and IT sectors by accelerating the path from laboratory to consumer," noted Dennis.

To underscore the importance of marketing their 'big idea,' participants will also be encouraged to harness the power of social media to compete for the competition's Popular Vote. The individual or team who wins the Popular Vote in the first round will automatically become a finalist, with the winner of the Popular Vote in the final round receiving a $5,000 bonus.

Under its extensive university relations program, InterDigital plans to make a multi-year charitable donation to Calit2, funding the engineering contest. The I²C will enable Calit2 at UC San Diego to further its mission and strategic plan to extend its influence and reach into innovations in wireless technology in academia and industry.

The deadline for submitting proposals to the InterDigital Innovation Challenge is 5 p.m. EDT on March 30, 2012. To make your "bright idea the next big thing," or to find out more about the competition, visit http://i2c.calit2.net/.

About Calit2 at U.C. San Diego

The UC San Diego Division of the California Institute for Telecommunications and Information Technology (Calit2), together with Calit2's division at U.C. Irvine, houses more than 1,000 researchers across the two campuses, organized around more than 50 projects on the future of telecommunications and information technology and how these technologies will transform a range of applications important to the California economy and its citizens' quality of life.

About InterDigital

InterDigital develops fundamental wireless technologies that are at the core of mobile devices, networks, and services worldwide. We solve many of the industry's most critical and complex technical challenges, inventing solutions for more efficient broadband networks and a richer multimedia experience years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading wireless companies.

For more information, visit: www.interdigital.com.

InterDigital is a registered trademark of InterDigital, Inc. All other marks are the sole property of their respective owners.

Media Contacts
Calit2 at UC San Diego
Tiffany Fox, 858-246-0353
tfox@ucsd.edu
or
InterDigital, Inc.
Jack Indekeu, 610-878-7800
jack.indekeu@interdigital.com
or
Investor Contact
InterDigital, Inc.
Janet Point, 610-878-7800
janet.point@interdigital.com


© Business Wire 2012
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Financials ($)
Sales 2018 305 M
EBIT 2018 64,3 M
Net income 2018 63,1 M
Finance 2018 599 M
Yield 2018 -
P/E ratio 2018 41,52
P/E ratio 2019 59,39
EV / Sales 2018 5,98x
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Capitalization 2 422 M
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William J. Merritt President, Chief Executive Officer & Director
Stewart Douglas Hutcheson Chairman
Kai Öistämö Chief Operating Officer
Richard J. Brezski Chief Financial Officer & Treasurer
James J. Nolan Executive Vice President-Products
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