Rich media mobile ad network Greystripe took hope top prize in mobile advertising at CTIA’s Emerging Technology Awards. The SF-based company, which raised $5.5 in Series C funding last month, announced today its big win in the “Mobile Applications and Widgets – Mobile Marketing / Advertising” category at the awards.

Greystripe’s GS.Rich Media iPhone ad format earned them the prize. They allow for full-screen, Flash advertisements for the iPhone, enabling digital marketers to bring online creatives to mobile. The technology came out of their work in mobile gaming, where they designed in-game ads — images, video commercials and scrolling banners — that were worked into the flow of regular mobile gameplay without causing major disruptions.

“This recognition of our technology leadership shows that we continue to innovate and bridge the gap between big brand advertisers and mobile,” said Andy Choi, CTO and Co-founder of Greystripe in a release. “Above all, we’re going to keep working hard at setting the industry standards for mobile advertising, including full-screen ads and creating a unified mobile and online ad platform.”

Greystripe’s GS.Rich Media ad formats were among 300 product and service applicants that were reviewed by a panel of 30 recognized members of the media, industry analysts and executives. The products were judged on innovation, functionality, technological importance, implementation and overall “wow” factor.