Have a look at the finalists and winners at the LBS Challenge web site.
The grand prize winner is joiku soft from Finland with a solution that allows using your cell phone as a wifi hotspot. This is a intriguing tool, especially for me travelling a lot.
My personal guess at who would win where Israel based Road Guard with their Green Drive application (Link, anyone?). Green Drive uses knowledge of road conditions and obstacles (e.g. stop sign around the corner) to suggest optimal eco-friendly speed to the driver. They became first-runner up. The other two winners were a somewhat exalted but boring (to me) social networking solution, as well as SkyMail a voice-to-mail service that allows categorizing messages for B2B scenarios (think mobile sales).
There was only a single location-based game (GPS Mission) in the competition. The platform has a flash-based tool for creating treasure hunts. It didn't win anything.
A number of location-based search tools were among the finalists (Where is the next restaurant? Where are my friends? Where is the Eiffel Tower? Why don't I have any friends?). But those failed to get among the top four. In my opinion the judges got it right when not selecting one of these. This has been done a lot and I fail to see the innovation. But I am willing to learn though and may be someone can explain why I am mistaken here.