Cisco announces its second Cisco I-Prize contest. In this open, global competition entrepreneurs submit proposals and collaborate to create the seed idea for Cisco's next billion-dollar business.

Idea submissions should fall in one of four categories:

• The Future of Work: New solutions that accelerate and change the way we do business
• The Connected Life: Technological inspirations that dramatically improve living conditions and disseminate culture
• New Ways to Learn: Next-generation solutions that transform when, where, and how people learn.
• The Future of Entertainment: New solutions that change how people play together

The winning team will receive a grand prize of $250,000.

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Cisco I-Prize Questions & Answers

What Makes a Good Business Plan?
Peter Wendell, Managing Director of Sierra Ventures, discusses the elements of a good business plan. (05:29 min)

The Second Cisco I-Prize
SVP Marthin De Beer talks about the Cisco I-Prize competition and how you can participate. (02:10 min)

What's the Big Idea?
Cisco Emerging Technologies VP and CTO Guido Jouret talks about what makes a big idea and how to find that unique customer pain point. (10:16 min)