and venture capital firm Draper Fisher Jurvetson are teaming up for a minimum of $250,000 .

The focus is on “new technology,” and student entrants from around the world will be sought for entry into the competition.

DFJ offered regional competitions over the past four years.

Sixteen finalists will be announced on June 19 and a winner of June 30.

Cisco (Nasdaq: CSCO) will utilize its TelePresence conferencing technology to link finalists with a joint panel of Cisco and DFJ representatives for presentations.

DFJ has some $6 billion under management.

Cisco, which is based in California, has $1.3 billion in venture capital under management. The company employs some 2,000 people at a campus in Research Triangle Park.