With the cloud industry moving along at a steady pace, Netflix has decided to kick it into high gear. Since their core business is based on the cloud with their instant watch service, Netflix has decided to set a challenge to cloud developers. By offering up $100,000 dollars in prize money, Netflix hopes to further advance cloud computing and of course, their own services.

"Cloud computing has become a hot topic recently, but the technology is still just emerging," said Neil Hunt, chief product officer at Netflix. "No doubt many of the key ideas that will take it to the next level have yet to be conceived, explored, and developed. The Netflix Cloud Prize is designed to attract and focus the attention of the most innovative minds to create the advances that will take cloud to the next level."

Nothing sparks innovation than good old fashion competition. By setting up this contest, Netflix has a great opportunity to find the next big thing in this cloud computing revolution. The competition will consist of 10 categories with a cash prize of $10,000 each. The judges are all big cloud players, so you know the competition will be big. Winners will be announced in October with prizes presented at the Amazon Web Services (AWS) Reinvent conference in November. All winners will be invited to attend the conference in Las Vegas as guests of Netflix.

The real winner of this announcement is the cloud industry itself. By sparking new innovations, other companies like IceWEB and NewTek are bound to benefit from the innovations that are sure to come out.

Source
PR Newswire

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Founder and Editor-in-Chief for NBTEquitiesResearch.com. Contributor and Anchor for the Fox News Channel and Fox Business Network 2000-2013. Chairman & CEO of NBT Group, Inc., a boutique private capital investment bank and investor relations organization.

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