BUDAPEST, HUNGARY 17/5/11 -- Power of the Dream Ventures, Inc. (OTCBB: PWRV), Hungary's premier technology acquisition and development company, and in4 Ltd., developer of iGlue, is pleased to announce 'The iGlue Summer Annotation Challenge,' a competition that will award cash and prizes to users who contribute the most relevant, value added content generated via iGlue’s semantic annotation technology.
iGlue works by first completing linguistic analysis of text on web pages. It then builds a semantic matrix between the words, and then assigns annotations to those entities it recognizes. The annotation challenge will focus on engaging users to add additional, hand annotation to either words already annotated or to new words on the page. Value added content that can be assigned includes iGlue database entities (selectable from over 83 million data points); images from several sources such as Google, Bing, Flickr, Facebook, Fotopedia; videos from YouTube or iGlue; location maps using Google; links from Google, Bing, or a user defined specific URL; products from such respected sources as Amazon.com, ebay.com and more and even user generated 'Sticky Notes.' All new annotations will be immediately visible to all other users. By this process the internet community at large can 'Wikify' any webpage, creating a new social layer over online content.
At the end of the Challenge the following prizes will be awarded to the most accurate and creative annotators:
- 1st prize of $15,000 dollars
- 2nd prize of $10,000 dollars
- 3rd prize of $5,000 dollars
In addition to the cash prizes ten additional users will be awarded with smart phones, music players, tablet computers and more in prizes totaling $10,000. Exact categories and prizes will be announced on June 1st.
"In launching iGlue we debated many different methods we could use in order to raise awareness of the product. Upon due consideration we decided that the best way for us to spend our advertising budget was to reward our user community. We believe iGlue to be a superior value creation tool that will bring about a new age of the Internet. The system was built to engage users, and to help create the long sought promise of the semantic web. I think giving users a good tool is just half of the equation, we also want to engage and motivate them to participate while they learn what this new technology is capable of. In order to do this, instead of taking out banner, text or newspaper ads, we will reward those who use the product in a creative and smart way, and in the process help us build a new, value-added intelligent web," commented Mr. Rozsnyay, CEO of Power of the Dream Ventures.
"iGlue is our experiment to see if we can think outside the box in terms of how the internet functions and how information is interconnected on it. At this point in time, even after four years of work, we have just begun to scratch the possibilities of iGlue's creative functions. We are organizing this challenge to empower people to think outside the box and image: What grand possibilities await in turning any webpage through iGlue's social media into a wikified experience. A new experience full of on-site accessible relevant connections, background information, multimedia, and more. With iGlue we can turn every word on the entire internet into a value added Wikipedia as opposed to having this functionality through selected domains. We are excited to learn what additional uses / benefits the user community at large can bring to iGlue as 'The iGlue Summer Annotation Challenge' unfolds," said Peter Vasko, Founder and CEO of in4, Ltd.
iGlue can be used on any of the billions of web pages making up the Internet. However, to keep the challenge orderly and to make tracking easier, 'The iGlue Summer Annotation Challenge' will be hosted on a number of prequalified web sites such as NyTimes.com, news.yahoo.com, Time.com, Wired.com and more. The final list of approximately fifty sites will be made available through www.iglue.com prior to June 1.
iGlue represents a quantum leap in internet technology. Through the interactive use of iGlue's machine and hand annotation feature every single word on any webpage becomes a live, media rich Wikipedia-like junction point, providing users access to immediate, value added information.
iGlue's expanded semantic database contains over 83 million data points, including over 7 million entities, with over 38 million semantic connections between them, including over three million geographical locations, more than one million names, and more than two hundred thousand institutional name entries and more.
iGlue supports Firefox, Chrome and Safari browsers.
There are no special requirements to participate in the Challenge. To join the race simply visit http://www.iglue.com, install either the Firefox, Chrome or Safari plug-in or bookmarklet, sign up to be a registered user and begin annotating.
'The iGlue Summer Annotation Challenge' officially starts on June 1, 2011 and runs through August 31, 2011. Winners will be announced on September 14, 2011.
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary's high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent "disruptive technologies." We primarily focus on providing enabling solutions in the fields of environmental technologies, power generation and storage, software products and services, biotechnology, medical devices and what we call 'disruptive technologies.' For more information please visit our website at Http://www.powerofthedream.com
iGlue is a collaboratively developed, flexible database that contains semantic elements, entities, and their relations. iGlue uses natural language processing technology to 'read' the content of web pages, to build a semantically linked connection matrix between the words, and then annotates those entities it recognizes. The annotated words become junction points on which value added information is presented to the user. This information includes Wikipedia-like descriptions and multi-media content like contextual images, videos, maps, locations and even user generated comments. In4, Ltd. the company developing iGlue, was founded in 2007. For more information please visit http://www.iglue.com
At the Company:
President and CEO
US telephone: 1-646-499-4510 between 8AM and 1PM ET.
At in4, Ltd.:
President and CEO
Source: Power of the Dream Ventures, Inc.