SOURCE: Power of the Dream Ventures, Inc.

Power of the Dream Ventures, Inc.

September 14, 2011 11:20 ET

iGlue Announces Winners of Annotation Challenge

BUDAPEST, HUNGARY--(Marketwire - Sep 14, 2011) - Power of the Dream Ventures, Inc. (OTCBB: PWRV), Hungary's premier technology acquisition and development company, is pleased to announce that its flagship investment, iGlue, Inc., has completed the company's Summer Annotation Challenge and today announced the winner of the cash and prizes competition.

  • First place, and the grand prize of $15,000, was won by iGlue user 'avillavert.'
  • Second place finalist, and winner of $10,000, is iGlue user 'sirmeranita.'
  • Third place finalist, and winner of $5,000, is iGlue user 'impulseries.'
  • In addition to cash prizes finalists four through ten will receive 'gadgets' including iPads, iPhones and music players.

The complete list of all winners is readily accessible on www.iGlue.com. All winners are notified via email.

"I do believe we had a fantastic three months during iGlue's Summer Annotation Challenge. A few numbers, over 4,500 plug-in downloads, over 1.6 million annotations placed on over 40,000 different websites. Finalists collected over 1.5 million points for their annotations and users collectively spent over 8,500 hours using the system. For a small start-up just getting its product out the door these are tremendous numbers," commented Mr. Rozsnyay, CEO of Power of the Dream Ventures.

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 now contains over 100 million data points, including over 10 million entities, with over 38 million semantic connections between them, including over 4 million geographical locations, more than 1.5 million names, and more than three hundred thousand institutional name entries and more.

"Now that the Annotation Challenge is over we only have one task left before us. Completing iGue's going public roadmap. We just raised $270,000 in additional capital for the company. After months of working through the required SEC we are now at the finish line. I anticipate completing iGlue's public process by the end of September. Once the company is public we will announce the dividend date for our shareholders," added Mr. Rozsnyay.

About PDV
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." For more information, please visit http://www.powerofthedream.com.

Contact Information

  • Contacts:
    At the Company:
    Viktor Rozsnyay
    President and CEO
    Phone: +36-1-456-6061
    Fax: +36-1-456-6062
    US telephone: 1-646-499-4510 between 8AM and 1PM ET