WATCH LIVE: Verizon 'Powerful Answers' To Award Startups $6 Million

Global startups are competing for funding in three critical, solutions-oriented categories.

Today, three innovative startups will each be named winners of a $1 million prize, recipients of Verizon’s 2015 Powerful Answers Award. The announcement of the winners will be the culmination of a yearlong global challenge to discover and help bring to market technologies in three critical, solutions-oriented categories: emergency response, transportation and the Internet of Things.

The original pool of more than 1,400 applicants from around the world was whittled down to 12 -- four in each category. Viewers can watch the presentation live today at 2 p.m. EST, 11 a.m. PST, above.

Among the finalists are Zizmos, which established a low-cost and dense sensor network to provide an earthquake early-warning service and accurate earthquake-hazard maps; and Owlet Baby Care in Utah, which makes baby monitors that use hospital technology to alert parents if their infant stops breathing. (To learn more about all 12 finalists, read here.)

Verizon will award $6 million in total to the winning entities: in addition to the three $1 million prizes, three first runners-up prizes will be awarded ($500,000 each) and six second runners-up (two in each category, $250,000 each).

Chris Hardwick, CEO of Nerdist Industries and host of Comedy Central's "@Midnight," will emcee the event. And Huffington Post co-founder and editor in chief Arianna Huffington will join Verizon executive vice president and president of Product Innovation and New Businesses Marni Walden for a special Powerful Perspectives panel on women in entrepreneurship at 2:10 p.m. EST, 11:10 a.m. PST.
Note: The Huffington Post is owned by AOL, which is part of Verizon.